PORTLAND, Ore. - (05/24/06) Struggling ATM giant TRM Corp.said it awarded newly hired president and CEO Jeffrey Brotman200,000 restricted shares worth of about $1.4 million at the goingmarket rate of TRM shares. Brotman, a Philadelphia attorney, wasbrought in after Kenneth Tepper, the companys formerpresident and CEO, resigned in March as TRM was preparing to reporta $9 million loss for the fourth quarter and a $13 million loss forthe year. TRM has been struggling to transform itself form thenations biggest operator of copier machines to the secondbiggest operator of ATMs, after its 2005 acquisition ofeFunds 14,200 ATMs. About 6,500 of TRMs now 18,000ATMs are co-branded and are part of the credit union-owned CO-OPnetwork.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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