NEW YORK - (06/20/06) -- SmartMetric Inc. said Monday it hasintroduced the world's first practical and affordable payment cardwith onboard fingerprint scanner. The card eliminates the need formanual data entry in all kinds of web-based financial transactionsby allowing the user to simply slide the card through a USB cardreader, then touch the fingerprint scanner into the card's surface.The card automatically matches the impression with the digitalfingerprint signature stored on the card. Once the identity of theuser is authenticated, the payment is authorized. A digitalsignature of the user's fingerprint is stored on the card bytouching the card's sensor. Each time the card is to be used, theperson activates the card by touching the scanner. The card can beused as a virtual ATM, enabling credit unions and banks to safelytransfer funds over the Internet onto debit cards.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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