TAMPA, Fla. - (11/15/05) -- Suncoast Schools FCU reported Mondayit has become the first financial institution to deploy Diebold'sfull deposit automation system. The $5 billion credit unionlaunched the first phase of its deposit automation pilot a year agowhen it became the first financial institution to go live withDiebold's ImageWay ATM system for check imaging in the employeelounge at the credit union's main offices. The new phase willextend the technology to all credit union members, using Diebold'sOpteva ATMs. Suncoast members can deposit checks without the use ofan envelope or deposit slip, then receive confirmation of theirdeposits, including an image of the check printed on the receipt.The system also allows the deposit of stacks of cash, up to 100notes, without the use of an envelope. The program will includeDiebold's Intelligent Depository Module; Bulk Note Acceptor;ImageWay ATM agent; and Xpedited by Alogent; and the ImageWayserver.
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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.
April 18 -
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.
April 18 -
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.
April 18