PORTLAND, Ore. - (06/30/06) -- ATM Giant TRM Corp. said Thursday itraised $5.2 million in new funds with the previously announced saleof its TRM Copy Centres Ltd., the company's wholly ownedphotocopier subsidiary in the United Kingdom. The unit, which wasacquired by Digital 4 Convenience PLC, is comprised of about 2,500photocopier units. TRM, which operates 18,000 ATMs in theU.S.--including 6,500 that are part of the CO-OP Financial Servicesnetwork--has been struggling since it acquired 14,200 cash machinesfrom eFunds last year. The company reported a $13.7 million lossfor the fourth quarter of 2005 and a $1.5 million loss for thefirst quarter of 2006. The company reported earlier this month thatit refinanced $105 million of its debt, which will allow it to savean estimated $6 million a year in debt service.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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