DENVER - (12/21/05) -- Financial processing giant FirstData Corp. said last week it plans to lay off 3% of its workforce,or about 1,000 people, by year-end, as it seeks to cut costs. Mostof the layoffs will be in the company's Card Issuing Services unit,which First Data is trying to sell. The company expects to takeadditional actions aimed at further reducing overall operatingcosts prior to the end of 2005 that would result in additionalcharges during the quarter.
More than 20,000 consumers have seen their bank accounts abruptly terminated in recent months. Experts believe financial institutions are responding to the Trump administration's restrictionist immigration policies.
President Donald Trump said he wouldn't sign the housing bill, which includes several riders aimed at helping community banks, until Congress passes the SAVE Act.
The international bank software company divested the remainder of its bank core software after selling off its Phoenix core system earlier this month.
The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
