NEW YORK - (02/10/06) The Federal Reserve is nowsending images to financial institutions via SVPCO-Image PaymentsNetwork, one of three major check clearing networks. The Fed sentits first images to National City Bank through Image PaymentsNetwork and has received check images from 10 banks. In addition tothe Fed, EDS, a third-party service provider, and 12 of the largestbanks, including Bank of America, Fifth Third, HSBC, KeyCorp.,M&T Bank, National City Bank, JP Morgan Chase and Wachovia, areusing the Image Payments Network. All financial institutions thatexchange images directly with each other via the Image PaymentsNetwork use the automatic settlement function, which providesreal-time net and bilateral settlements.
-
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.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
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.
July 3 -
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.
July 3 -
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.
July 3 -
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3