EL SEGUNDO, Calif. - (07/14/05 -- Xerox FCU said it has selected OpenSolutions The Complete Credit Union Solution for its core dateprocessing needs. In addition to the core processing system, the$755 million, 16-branch credit union will install OSI's digitalimaging and scanning devices, with which members will be able tosign for cash back over the counter with electronic signature pads.The credit union also purchased OSI's consumer and mortgage loanpackages.
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.
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.
The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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.
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.
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
