SAN FRANCISCO - (12/08/05) -- Patelco CU announced Wednesday ithas signed a three-year contact with AT&T Inc. to provide itwith network services for its main headquarters and 37 branches.The deal calls for AT&T companies to deliver network-basedVirtual Private Network services for secure MPLS-based IP networkconnections to the company's branches, ATMs and service centers.AT&T companies will also provide network management servicesand will serve as the primary provider of voice and data servicesfor the credit union.
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The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
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The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
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After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
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The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
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Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.
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U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.
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