SAN JOSE, Calif. - (04/12/05) -- The city of San Jose has completed apilot program that allows drivers to use a smart card to feedparking meters and link it directly to their credit union accountso funds can be automatically replenished. The pilot was conductedwith ParcXmart Technologies Inc., of Hampton Falls, N.H., in theJapantown section of San Jose in February, then linked directly toan electronic funds transfer network in a second phase last month.Several communities currently allow motorists to pay parking meterswith reloadable smart cards at stores owned by participatingmerchants, but San Jose is the first to link the system to afinancial institution account. New Haven, Ct., is scheduled tointroduce the technology soon.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
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.
July 3 -
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.
July 3 -
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.
July 3