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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Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.
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The FDIC moved quickly on Friday to sell $288 million in assets Community Bank and Trust – West Georgia to Anchor Bank, but the sale announcement leaves the fate of $27 million in uninsured deposits to be determined.
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Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
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Banner Bank is poised to merge with Bank of the Pacific in an all-stock deal valued at $177 million. The two Washington-based commercial banks both have branches in Washington and Oregon.
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BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.
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San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
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