GLASTONBURY, Ct. - (06/14/06) Credit union outsourcer OpenSolutions Inc. reported Tuesday it has successfully launched itsISCheck application to receive check images, process return itemsand exchange outgoing check images electronically with the FederalReserve. The system also processes forward image cash letters andbank-to-bank exchange. ISCheck is designed to allows credit unionsand banks to customize their own image exchange by picking andchoosing services like image exchange, branch capture, remotedeposit, document imaging and image lockbox. Open Solutions saidTuesday it has implemented ISCheck at First Niagara Bank, allowingthe upstate New York bank to exchange items with both the Fed andwith KeyBank from its 119 branches in New York.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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