WILMINGTON, Del. - (04/25/05) -- Credit card giant MBNA Corp. Said itis considering reintroducing 0% teaser offers, among other things,after first quarter profits plunged 94% to just $31.7 million, ortwo cents a share. The fall in earnings was due mainly a $767.6million restructuring charge and unexpectedly high repaymentvolumes as cardholders continued to take out equity from theirhomes to pay off card debt, the company said. The higher paymentsreduced managed loans more than in recent years, especially onhigher-interest loans. To combat the situation, a company officialsaid last week MBNA is considering brining back its 0% teaser rateto entice cardholders to consolidate their debt with the cardgiant. Total managed loans for the nation's biggest credit cardbank declined for the first time in several years to $116.6 billionat the end of the first quarter, down $1 billion from a yearearlier.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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