Reporters and other staff with the Associated Press who covered the Summer Olympics in Greece carried stored-value Visa cards developed specifically for them by Card Services, an affiliate of the New York State Credit Union League. The card was developed over the past year in conjunction with Associated Press (AP) EFCU, New York City, to ensure AP's 300 staff members had funds at their disposal while they covered the XXVIII International Olympiad. The cards were reloadable, so they could be replenished with U.S. dollars, which were then converted to Euros that AP staff could access as cash at ATMs or for point-of-sale purchases. Each AP staffer received a Visa card with a predetermined set value from Bud Weydert, director of special events for AP. If additional value needed to be added to the cards, Weydert only had to e-mail Card Services, let them know which card(s) needed to be reloaded and with what dollar amount. The cards expire at the end of this year.
-
First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12