Point-of-sale terminal maker Hypercom Corp. late on Aug. 4 reported revenues of $103.9 million for the second quarter ended June 30, down 1.6% from $105.6 million during the same period last year. However, the Scottsdale, Ariz.-based company reported a $1.26 million net loss, in part because of component shortages that affected revenue; it reported net income of $1.26 million during the same period last year.
Tioga-Franklin Savings Bank's failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.
The Office of the Comptroller of the Currency has granted Sau Paulo-based Itaú Bank — the largest bank in Latin America — permission to set up shop in Miami.
The bank's decision to transfer two of its exchange-traded funds to the Texas Stock Exchange is an effort to better align the funds with their investment thesis, the bank said.
The U.S. Court of Appeals for the 8th Circuit is set to decide whether a lower court's decision that found the Federal Reserve mispriced debit interchange limits in the Durbin Act stands. Analysts say the battle will pressure banks toward faster payment options.
Brent Reston will serve as BMO Financial Group's inaugural chief digital officer; LCNB Corp. appoints Susan Zaunbrecher to its board; HSBC and Standard Chartered complete a bank-to-bank tokenized deposit transaction on Swift's blockchain-based ledger; and more in this week's banking news roundup
The bank has invested in Payload, a company that has grown quickly selling new processing technology to real estate companies, with plans to expand into other industries with multiparty transactions.
