COLUMBUS, Ga. - (07/21/05) -- TSYS, the second largest processorof card transactions, said second quarter earnings jumped 41% to$50.6 million, or 26 cents a share, based on its March acquisitionof Vital Processing Services. Second quarter revenue was $410.2million, compared to $289.6 million for the same period last year.Among the second quarter highlights was a renewed five-yearprocessing contract with Navy FCU, the nation's largest creditunion. Through six months, the company had net income of $96.8million, or 49 cents a share, on $760.2 million in revenue,compared with net income of $68.4 million and 35 cents a share on$574.9 million in revenue for the first half last year.
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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.
July 3