GLASTONBURY, Conn. - (08/18/04) Open Solutions Inc. has made an equityinvestment in Open Technology Solutions, a Colorado-based CUSO thatallows credit unions to share technical expertise and systems, andto achieve better operational efficiencies. OTS currently runs OpenSolutions technology solutions in a CUSO environment for twoof Open Solutions clients, Colorado-based Bellco CreditUnion and New York-based Bethpage FCU, which co-founded the CUSO.Inviting a key technology provider to become a partner in aCUSO recognizes the value of the provider and more tightly linksthe success of the two organizations. We look forward to a long,successful business relationship, says Mike Atkins, ChiefOperating Officer of OTS.
-
The FDIC Board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
29m ago -
The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
35m ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
36m ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
3h ago -
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24