ST. PETERSBURG, Fla. - (02/02/060 Stockholders of Certegy Inc.were paid a special $250 million reward when they voted last weekto approve the cards processors merger with FidelityNationals outsourcing group. The company said it raised the$250 million in the capital markets this week and will use themoney to pay shareholders a special cash dividend of $3.75 a shareas part of the merger agreement. The merger will combine Certegywith Fidelity Nationals Fidelity National InformationService, which is comprised of the old Aurum Technologies, SanchezComputer Associates, ALLTEL Information Services and VISTAInformation Solutions and InterCept Inc. The new company is beingspun off from Fidelity Nationals core title insurancebusiness and will trade separately on the New York Stock Exchangeunder the symbol FIS
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
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