ST. PETERSBURG, Fla. - (02/14/06) -- The Armed Forces Financial Networkand MasterCard International announced Monday that U.S. troopsdeployed around the world can use their AFFN-branded cards toaccess MasterCard's Maestro merchant and Cirrus ATM debit networks.AFFN, which is jointly owned by defense credit unions and banks,and MasterCard began a pilot of the program in December 2004.AFFN-qualified credit union and bank identification numbers havebeen added to the Maestro and Cirrus BIN tables. In addition,merchants are being told to treat the AFFN network as synonymouswith Maestro. There is no need for new cards, new branding ormembership standards, the two partners say. AFFN serves more than337 financial institutions around the world and 92 millioncardholders, at more than 181,000 ATMs and 1.2 million merchantlocations.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
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