Journal Daily

Bankruptcy Bill Pushed To Fall

WASHINGTON, D.C.-Congressional action on the credit union-backed bankruptcy reform bill has been delayed until Congress returns from its summer recess in September, even though the bill has broad bipartisan support in both chambers of Congress.

Republican leaders are hoping to amend the package enough to satisfy concerns of President Clinton, who has threatened to veto the measure.

If he does, congressional leaders are hoping to round up enough votes to override the veto. Congress is expected to attach the bankruptcy bill to another bill, probably an appropriations measure.

Carbuying Co. Gets Cap Infusion

LOS ANGELES-Autoland, the oldest credit union auto buying service, has raised $21 million in funding to finance an expansion program aimed at more than doubling the company''s size over the next two years.

The funding was obtained from Centre Partners Management, LLC, which will hold a minority position in Autoland.

The funds will be used to hire additional management, purchase computer hardware, and design software.

It said it also plans to expand into affinity groups that are looking for value-added membership services. Autoland has 400 credit union clients and sold more than 8,000 vehicles in 1999.

Symitar Signs With InterVoice-Brite

SAN DIEGO-Symitar Systems, a unit of Jack Henry & Associates, said it has selected the Dallas- based InterVoice-Brite to supply speech-recognition application to the 250 Symitar client credit unions offering members Interactive Voice Response (IVR) service.

The company said the technology allows members to transact business more quickly and speak with a live agent only when needed.

Using technology developed by Intervoice Brite's Advanced Speech Development Team, members will be able to interact with a directed dialogue application to access personal account information and perform other functions.

Debit Fraud Lower Than Credit Card

WHITE PLAINS, N.Y.-Fraudulent use of debit cards remains relatively low compared to credit card fraud, according to a survey by White Plains, NY-based BAIGlobal Inc. consultants.

Of 1,000 consumers surveyed, 3.1% report that their debit card numbers had been used without their permission and 1.2% report that their debit cards had been stolen in the past 12 months.

That compares with 5.1% of the respondents reporting that their credit card numbers were used without permission and 2.5% report that their credit cards had been stolen in the past 12 months.

The percentage of respondents who lost their credit or debit cards in the past 12 months were about the same, with 4.1% for debit cards and 4.2% for credit cards.

Deluxe Launches Internet Portal

ST. PAUL, Minn.-Deluxe Paper Payment Systems said it has introduced an Internet portal designed exclusively for credit unions.

The site, at creditunion.deluxe.com provides additional information to help improve credit unions member satisfaction, check programs, and risk management through the company's MemberPlus program.

Cavion Goes Live With Loanliner

ENGLEWOOD, Colo.-Cavion.com said it has completed beta testing with CUNA Mutual Group's loanliner.com on-line lending software and is poised for its commercial introduction to the credit union market. Cavion.com plans to pare the CUNA Mutual product with its own CUiLOAN Internet lending software.

CU Signs With Processing System

ABERDEEN, Md.-Matcom FCU said it has signed with CUSA Technologies to switch to its Reliance processing system to help it improve productivity and enhance customer service. CUSA Technologies, a unit of Fiserv, will provide the flexibility the $130 million credit union needs to adapt to its technological requirements, the credit union said.