NORTH CANTON, Ohio. - (04/26/06) Restructuring costs continuedto plague Diebold, with the leading ATM manufacturer announcingTuesday a 54% decline in first quarter earnings to $12.7 million or18 cents a share, from the first quarter last year. The companysaid restructuring charges cost roughly four cents a share in thefirst quarter, and announced it is shutting its Cassis, Francemanufacturing plant and opening a plant in Budapest, Hungary.Charges for that restructuring are expected to be as much as $30million. First quarter revenues, bolstered by the companysexpanding elections systems operations, rose 17% to $623.7 million.Revenues for elections systems rose from $5.9 million to $30.4million for the first quarter. Revenues for the rest of thecompanys operations were flat for the period.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
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A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27