PORTLAND, Ore. - (03/15/06) Shares in ATM giant TRM Corp.slumped almost 20% Tuesday after the company announced that CEOKenneth Tepper had resigned for personal reasons and is beingreplaced by Jeffrey Brotman, a Philadelphia lawyer who has donework for TRM. The company, which built an ATM fleet of over 21,000machines in the U.S., has stumbled since acquiring eFunds14,200 ATMs in 2004, as expenses to integrate the giant ATM fleetpushed down third quarter 2005 earnings by 73%, to just $500,000.The company took another hit in February when the CO-OP Networkdiscontinued use of 5,000 of its ATMs. Analysts on Wall Street werewondering if the change in the executive suite will cause thecompany to delay the release of its fourth quarter and fiscal yearfinancial reports, due out Thursday. TRM shares closed down 17%Tuesday to $7.30, and are down almost 70% over the past 12months.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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