ST. PETERSBURG, Fla. - (06/22/06) PSCU Financial Servicesreported Wednesday it has signed a long-term agreement withClearview FCU to process the Pittsburgh credit unionssignature, PIN and ATM debit programs. The credit union also signeda six-year contract extension for credit card processing with PSCU.Clearview, with $560 million in assets, converted more than 76,000signature, PIN and ATM debit accounts to PSCUs DebitAdvantage platform.
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The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
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Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
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The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
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Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
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