COLUMBUS, Ohio - (05/02/05) -- AirNet Systems Inc., one of thebiggest regional transporters of checks for payment clearing, saidthe advent of the new electronic clearing law, known as Check 21,has cost it two major contracts representing $6.6 million. The airshipping company said the Clearing House Payments Company LLC, ofNew York, has canceled a bank document transportation contract forwest coast financial institutions because of the availability ofelectronic collection alternatives. In addition, a major southwestbank has also canceled its AirNet contract, forcing the company todiscontinue its flight serving three other banks into thatcity.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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