CHANTILLY, Va. - (04/25/06) Internet services providerOnline Resources Corp. reported a 66% drop in net income for itsfirst quarter, to $800,000, or three cents a share, compared to$2.2 million, or 10 cents a share, for the same period last year,despite a rise in revenues. Revenues for the first quarter were up11% to $16.7 million. The decline in earnings was due to thedeparture of three large clients who were acquired and left thecompanys platform, as well as the introduction of equitycompensation and tax expensing, which were not included in thefirst quarter in 2005, the company said.
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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.
July 3 -
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.
July 3 -
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