WASHINGTON - (04/11/05) -- The Federal Trade Commission isreviewing the proposed acquisition of Liberty Enterprises by JohnH. Harland Co. under the pre-merger notification provisions of theHart-Scott-Rodino Antitrust Act for its potential affects oncompetition. But officials involved in the deal expect the deal topass muster with the federal regulators. "We don't expect anyproblems," Stan Hollen, CEO of Liberty told The Credit UnionJournal last week. He said he expected the review of the $160million deal to be completed within 60 days. The combination willeliminate one more competitor in the rapidly declining market forcheck printing. "Our intention is to be the last check printerstanding," said John Heald, president of Harland's Printed ProductsDivision, of the dwindling number of printers serving financialinstitutions that will now include just Harland, along with Deluxeand Clarke American.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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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.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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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.
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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.
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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.
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