COLUMBIA, S.C. - (05/17/06) -- Palmetto Cooperative Services, awholly owned CUSO of the South Carolina CU League, announcedTuesday it has contracted with VSoft Corp. to provide image captureand exchange services at the branch for its 300 credit unioncustomers in six states. Under the deal, PSC will implement VSoft'seDesk Capture, Image Archive, Research, Branch Item Capture andImage Exchange products. Plans call for PCS to roll out VSoft'sBranch Item Capture solution to its members, allowing creditunions' branch locations to capture and exchange images onsite incompliance with the new Check 21 law. PCS will collect check imagesfrom the credit unions and exchange them with the FederalReserve.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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