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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While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
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The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
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GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
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As banks consider their strategies, other big names are also considering a role for digital assets.
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The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
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Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
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