SAN FRANCISCO - (03/01/05) -- The Financial & SecurityProducts Association, which represents servicers of ATMs, saidMonday it has asked a federal court to block Diebold Inc. fromenforcing a policy prohibiting third-party maintenance companiesfrom buying any spare parts or diagnostic software from Diebold toservice Diebold ATMs. The ATM servicers' groups said the Dieboldpolicy has the effect of preventing third-parties from providingnecessary upgrades and other maintenance, including renovations forTriple DES compliance, on Diebold machines. The suit claims thatDiebold is requiring all owners/operators of its machines topurchase new ATM keyboards and encryption software from Diebold andhave a Diebold technician perform the installation. A Dieboldspokesman said the company was disappointed the servicers havedecided to continue to pursue the litigation. "We were insettlement talks and they broke off the talks," said JosephRichardson, of Diebold. "Their demands are unreasonable,"Richardson told The Credit Union Journal. "It's out company's dutyto vigorously protect our substantial investment in ourintellectual property while at the same time accommodating ourcustomers by allowing them to use anyone they choose to use toservice their equipment."
-
Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."
30m ago -
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
March 28 -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
March 28 -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
March 28