Briefs

Published June 19, 2008, 1:00 a.m. EDT

Updated June 19, 2008, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

Total System Services Inc. today announced an agreement to process consumer credit card transactions for PartnersFirst Affinity Services, a division of Torrey Pines Bank.

Alliance Data Systems Corp. has signed an agreement to provide private-label credit card transaction-processing services for the retail catalogs and Web sites of PD Financial Corp., also known as PeachDirect.

U.S. Sen. Christopher Bond, R-Mo. on Tuesday became a co-sponsor of Senate Bill 3086, the Credit Card Fair Fee Act of 2008 that Sen. Richard Durbin, D-Ill. introduced two weeks ago (CardLine, 6/5).

MORE FROM AMERICAN BANKER

Earnings

Jack Dorsey touts Block's AI-driven restructuring

The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.

By John Adams
Executive Editor, Payments

15m ago
Whistleblower

SEC slashed offer to Wells Fargo whistleblower by $125M

The Securities and Exchange Commission initially offered $179.5 million to Michael Bacon, who provided key information to the government about Wells Fargo's fake-accounts scandal. But shortly after SEC Commissioner Paul Atkins took office, the amount was sharply reduced.

By Kevin Wack
Banking Editor

51m ago
Artificial intelligence

Automating grunt work is still agentic AI's sweet spot

Bankers and tech executives at SAS's annual conference said agentic AI is still in the "terrible twos" stage and requires human supervision.

By Suman Bhattacharyya
Freelance journalist

2h ago
Employment data

Economy added 115,000 jobs in April despite mixed signals

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

By Ebrima Santos Sanneh
Reporter

4h ago
Community banking

Georgia bank saw increase in problem SBA loans before it failed

Almost 60 SBA loans originated by Community Bank & Trust — West Georgia were classified as noncurrent, according to Small Business Administration records. Last week, Community became the second U.S. bank to fail in 2026.

By John Reosti
Reporter

7h ago
Tokenization

Fed's Cook: Tokenization won't replace traditional finance

Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.

By Maria Volkova
Reporter

7h ago