JACKSONVILLE, Fla. - (07/19/06) Fidelity National InformationServices, one of the biggest third-party processors for creditunions, announced Tuesday it has created a back-office outsourcingand item processing operation in Brazil. The new outsourcingoperation, which will be called Fidelity BPO Brazil Ltda, willprovide a comprehensive range of office processing and supportservices, check imaging, check clearing and custody and consumerloan processing for credit unions and banks at more than 40processing centers in Brazil. To facilitate the massive outsourcinginitiative, Fidelity National Information has agreed to acquireProservvi Empreendimentos e Servicos Ltda, a Brazilian processor,for $2.8 million in cash and the assumption of $13.3 million indebt.
-
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24 -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24