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.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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