RICHMOND, Va. - (06/14/06) VACorp FCU, the Virginia LeagueCorporate, announced Tuesday it has signed with PalmettoCooperative Services, a unit of the South Carolina CU League, toprovide a branch image capture solution for its credit unionmembers. Palmetto Cooperative signed a deal last month with VSoftCorp. to provide item processing services for its members. Underthe deal, VACorp will roll out Vsofts Branch Item Capturesolution to its 200 members credit unions. The solution will allowVirginia credit unions to capture share draft (check) images at thebranch level, rather than transporting them to a central site. Theimages will be sent to Palmettos central site forprocessing. All participating credit unions will have access tosearch and research in the image archive.
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The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.
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Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve's monetary policy path.
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Nationwide, Americans are falling behind on their car loans. But among Ally Financial's customers, delinquencies fell during the first quarter.
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The international messaging network is attempting to standardize consumers' cross-border payment experience as other payment rails such as Visa Direct, Mastercard Send and stablecoins pressure the correspondent banking system.
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The Birmingham, Alabama-based company also benefited from improved credit quality, with declines in nonperforming assets and criticized loans paving the way for a reduced provision
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CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.
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