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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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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