RALEIGH, N.C. - (08/09/04) -- State Employees' CU said iteliminated the service fees on a number of products, saying it wasseeking to make basic financial services more cost effective formembers. Fees for check copies and statements, debit card reissuesand travelers checks have all been dropped. In the case of the feefor check and statement copies, SECU had been offering the copiesfree via the secured Member Access section of the SECU website,ncsecu.org. But members who needed to order paper copies werecharged 50 cents for the first two copies and $1 for eachadditional copy. In the case of debit cards, after being free atfirst issue, a $3 fee had been charged on expired or lostcards.
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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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