DALLAS - (09/14/04) -- TNB Card Services said it has signedagent issuing deals with four small Midwest credit unions, underwhich the company will buy the portfolios and manage them. Thecredit unions are: NuMark CU, Joliet, Ill.; Kansas City CU, KansasCity, Mo.; Jefferson City Highway CU, Jefferson City, Mo.; andRiverview CU, Belpre, Ohio. The total value of the four portfoliosis $10 million. TNB is a unit of credit union-owned Town NorthNational Bank. TNB has purchased more than 50 card portfolios fromcredit unions over the past year.
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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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