SAN FRANCISCO - (10/06/05) -- Pay By Touch Solutions, the pioneerin fingerprint biometrics that has been introduced at the checkoutline at hundreds of supermarkets, reported Wednesday it hasacquired ATM Direct, the provider of an all-software solution thatallows PIN debit payments online. ATM Direct has a patent pendingsoftware that allows for secure entry of an ATM or check card PINnumber for purchases made over the Internet, allowing real-timepayments just like cash. Separately, Pay By Touch announcedWednesday it raised $130 million this week with a new debtoffering. Pay By Touch has rolled out its fingerprint paymentterminal at Piggly Wiggly supermarkets, Albertsons and SuperValustores.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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