PORTLAND, Ore. – TRM Corp., the nation’s second-biggest independent operator of ATMs and a key credit union partner, has delayed the filing of its fourth quarter and annual reports while he struggles to account for a major restructuring. The company, which reported a massive $105 million third quarter loss as it wrote down major assets, said it requires additional time to complete its consolidated financial statements. Since its third quarter report, TRM has raised more than $100 million with the sale of half of its business, including ATM operations in Canada and the United Kingdom, and its former core business of copier rentals. TRM, which operates more than 17,000 ATMs in the U.S., provides about 6,000 machines for the CO-OP Network.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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