BEDMINSTER, N.J. - (12/12/05) -- Subscribers to Verizon Wireless willbe able to locate their credit union or an ATM or shared branchnear them using their phone starting this week. The wirelesscarrier plans to launch its location-based services market thisweek with a GPS-based subscription offering called VZ Navigator.Verizon's new service, VZ Navigator, which will be available as a$10-a-month or $3-a-day location-based service and will allow usersto locate addresses, landmarks and financial services. Similarlocator services are already available on a smaller basis on theNextel and Sprint networks, and on Blackberrys.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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