LONDON - (01/03/04) -- The man who revolutionized financialservices by introducing the first automatic teller machine washonored by the Queen last week along with rock star Roger Daltrey,lead singer for the Who, and British-born astronaut Michael Foaleas Commanders of the Order of the British Empire. JohnShepherd-Brown, 79, installed the world's first ATM almost 40 yearsago for Barclays Bank, in Enfield, North London. Shepherd-Browndeveloped the idea for an automated teller after he becamefrustrated at not being able to get cash on weekends. In 1967, asmanaging director of De La Rue Instruments, he initiated what hasbecome a world-wide practice, the trip to the ATM. Shepherd-Brownwent on to supervise the installation of ATMs in Switzerland,Philadelphia and Tokyo.
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The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.
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The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.
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The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.
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Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
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A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.
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