PORTLAND, Ore. – Corillian Corp., which is in the process of being acquired by CheckFree Corp., reported yesterday that first quarter losses rose to $1.1 million, or three cents a share. Losses for the same quarter last year were $970,000, or two cents a share. Revenues for the quarter rose a strong 15% to $16.2 million, as the company integrated last year’s acquisition of InteliData Technologies Corp. CheckFree has agreed to acquire Corillian for $5 a share, or $280 million and the marriage of the Internet banking services providers is just waiting for clearance from federal anti-trust regulators.
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Some last-minute drama has derailed planned votes on crypto and stablecoin in the House, but the political maneuvering isn't likely to improve the long list of criticisms that bankers have raised about the legislation before it heads to President Donald Trump's desk.
July 15 -
The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.
July 15 -
The U.K. challenger bank would follow London fintech Wise in emphasizing New York over London in an effort to boost valuation and establish a foothold in the U.S. Plus, Lloyds is in talks to buy all-in-one card fintech Curve; and more news in the global payments and fintech roundup.
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Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.
July 15 -
The Minneapolis-based bank worked with WaveBL and ICICI Bank to handle an export shipment with fully digital documents via blockchain technology.
July 15 -
The Federal Reserve governor said the uptick in buy now pay later repayment issues is likely a sign that consumers don't understand the terms of the emerging credit offering.
July 15