PHOENIX - (07/25/05) -- State officials said last week theywill start offering recipients of child support payments andunemployment benefits the ability to receive the payments onstate-issued debt cards, the first state to offer the combinedpayments on debit card. The Visa-issued cards will be offered byJPMorgan Chase, allowing recipients to use the cards anywhere thatVisa is accepted. They will also be able to make a limited amountof free cash withdrawals at ATMs owned by Morgan's Bank One unit.The new cards are aimed at the state's unbanked benefitsrecipients.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
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Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
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In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
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Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
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Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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