ONTARIO, Calif. - (09/05/05) -- The CO-OP Network is expected toannounce an effort in conjunction with CUNA's CEO Roundtable asearly as Tuesday to gather used ATMs, point-of-sale and othernecessary payment machinery not in use to contribute to needy GulfCoast credit unions. CO-OP, the national credit union-ownedpayments network, would pay for the cost of transportation of anydonated equipment under plans for the salvage effort in the wake ofHurricane Katrina, according to Jim Hanisch, executive vicepresident of CO-OP. "It's very preliminary right now, but we'reworking with CUNA and the Roundtable to put together some kind ofprogram," Hanisch told The Credit Union Journal. Thousands of ATMsand point-of-sale machines have been destroyed by the flooding orother related incidents. Representatives with The CO-OP, PULSE EFT,NYCE and Fiserv all reported last week major outages at machinesconnected to their networks. Separately, The CO-OP also plans towaive all processing for credit unions in the affected areas for 90days, according to Hanisch.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
7h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
9h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25