The Credit Union 24 Network reported it hit an all-time high in monthly transaction volume, approaching 18-million transactions routed through the EFT network in December of 2005. The record-setting month reflects an increase of approximately 23% in transaction volume over December of 2004, Credit Union 24 stated. ATM and point-of-sale (POS) transaction volume in 2005 grew by nearly 30% over 2004 numbers to more than 182 million transactions. "Credit Union 24's consistent transaction growth stems from the network's efforts not only to attract more credit unions and cardholders, but also to broaden our credit unions' ATM and POS access," said Credit Union 24 President Jim Park.
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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.
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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.
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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.
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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.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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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.
9h ago