MINNEAPOLIS, MN, March 5 /PRNewswire-FirstCall/ - RDM Corporation (TSX:RC), a leading developer of specialized software and hardware products forelectronic payment processing and Remote Deposit Capture (RDC) solutionsannounced today that BLM Technologies Inc. based in Minneapolis, MN, aleading single source provider of information technology consulting andbranch automation solutions and services for financial institutions, hasbeen certified to provide in warranty and non-warranty service for itscheck scanning equipment in the United States. "We chose BLM because of their existing infrastructure and experiencein the industry," said Douglas Newman. "Their reputation for prompt,efficient and thorough service solutions for financial institutions andtheir nationwide reach makes BLM an excellent partner to assist us inmeeting the service needs of our U.S. customer base." "We're extremely excited about the opportunity to partner with one ofthe premier manufacturers of check scanning equipment," said Ron Meinhardt,President of BLM. About RDM Corporation RDM Corporation is headquartered in Waterloo, Ontario and trades on theToronto Stock Exchange under the symbol RC. RDM is a leading provider ofspecialized software and hardware products for electronic paymentprocessing. RDM has pioneered electronic check conversion systems and webbased image and transaction management services for banks, retailers,payment processors and government agencies as well as print quality controland image quality systems for a variety of global customers. For furtherinformation, visit RDM's website at
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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