The Clearing House Names a New CEO

The Clearing House Board of Directors
announced that James D. Aramanda, previously with ADP, will serve as
CEO. Aramanda’s experience includes serving as Group President and
Executive Vice President of Automatic Data Processing, Inc. responsible
for brokerage, claims and dealer services businesses in 50 countries. He
also was Vice Chairman of Mellon Financial Corporation (now Bank of New
York Mellon) and CEO of processing businesses that operated around the
globe. During his 18-year tenure at Mellon, he successfully led and
enhanced the company’s benefits processing, pension administration,
shareholder administration, pension and HR consulting, cash management
and brokerage services.

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NAUTILUS & TRITON

Representatives of the South Korea-based Nautilus Hyosung have met with
Triton System management and staff at the Delaware Long Beach and
Memphis facilities of the latter. Having recently signed agreements to
acquire Triton from the Dover Corporation, Nautilus is hoping to close
the deal before 4Q08, pending regulatory approval. During the visit,
H.S. Cho, Executive VP of Corporate Strategy with the Hyosung Group, and
P.K. Ryou, CEO of Nautilus Hyosung, addresses Triton employees, Triton’s
management team and senior staff, answering questions and sharing a
vision for the future. Ultimately, Nautilus reps assured workers
security in their livelihoods with plans to establish a global R & D
center in the United States, expansion, and plans to invest in the
people, facilities and the communities of Long Beach and Memphis. Triton
provides ATMs and ATM management software at 180,000 locations in over
24 countries.

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Q2 Bankruptcy Filings Jump 12.5% Sequentially

Total bankruptcy filings jumped 31% in the second quarter compared to
the year ago period, and increased 12.5% sequentially. The number of
filings is the highest in more than two years. During the second quarter
total filings hit 276,510 compared to 245,695 for the first quarter and
210,449 one-year ago. Compared to two years ago bankruptcy filings
nearly doubled from 155,833. According to the Administrative Office of
the U.S. Courts filings in the 12-month period ending June 30th, neared
the one million mark. The 967,831 bankruptcy cases filed represent a 29%
increase over the prior 12-month period. Of the total filings 64% were
Chapter 7 filings. Consumer filings for the same 12-month period,
totaled 934,009, up 28% from the 727,167 bankruptcies filed in the
12-month period ending June 30, 2007.

QUARTERLY BANKRUPTCY FILINGS
2Q/06: 155,833
3Q/06: 171,146
4Q/06: 177,599
1Q/07: 193,461
2Q/07: 210,449
3Q/07: 218,909
4Q/07: 226,413
1Q/08: 245,695
2Q/08: 276,510
Source: Administrative Office of the U.S. Courts

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AUG CONSUMER

The China Consumer Confidence has rebounded for the month of August by
0.9 points to 92.9 following a 3.1 drop the month prior while there was
a 0.5 increase in the overall consumer confidence to 61.7. The overall
consumer confidence is an average of the 69.3 current conditions index
and the 56.8 future expectations index. These findings were compiled by
the Xinhua Finance “eziData China Consumer Confidence Index,” which is
produced monthly by the China consumer data provider, through 1,540
telephone interviews between the dates of August 1 and August 15, 2008.
Xinhua Finance Limited is headquartered in Shanghai, has offices and
news bureaus in 11 countries while eziData provide local China consumer
data.

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Gen X & Y Sees Financial Matters Differently

Fidelity Investments has released new research on “Gen X” and “Gen Y” that revealed five areas of conflict for both generations around career decisions, savings perceptions, Internet adoption, financial guidance and workplace savings plan usage. When asked about what keeps them up at night, 77% of Gen X, and 74% of Gen Y named money as their biggest concern, well above concern over family relationships or healthcare. Gen X/Y agree that saving for retirement is a goal, but other financial priorities and managing debt are more crucial. Fifty percent of Gen X/Y list saving for retirement as a current obligation or goal however 51% of Gen X/Y indicate other financial priorities prevent them from saving for retirement. When compared to saving for retirement, managing everyday finances, making mortgage payments and managing credit card debt all rank higher as crucial goals for both Gen X/Y.

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ATM MARKET STUDY

Edgar, Dunn & Company’s first “Australian ATM Market Study 2008” is
officially underway, slated for completion by November 2008 to examine
facts and figures on the Australian ATM industry. The market study will
provide conclusive evidence on deployment economics, market share,
analysis of industry trends and insight into the country’s ATM market
structure/dynamics compiled from surveys conducted through ATM
deployers, ATM service providers and industry experts. Sponsors of the
study include First Data ATM network, NCR ATMs, Wincor Nixdorf/ITS ATM
hardware, Cuscal banking services and Diebold financial services.
Results are projected for availability to subscribers by November 17,
2008. Edgar, Dunn & Company independent global financial services was
founded in 1978 to provide consulting and market insight in over 30
countries on six continents.

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Metavante Deploys Actimize Risk Management

Payment technology provider Metavante has announced that its
enterprise-wide fraud monitoring and reporting efforts will be supported
by solutions from Actimize risk management solutions.
Metavante’s first deployment of the Actimize real-time analytics
technology will be Metavante’s online bill payment services. This will
enhance the existing risk management processes Metavante already
provides its client base. The benefits of this commitment to
ever-improving levels for fraud monitoring and prevention include
real-time monitoring across both “risk-based” and “good funds” model
bill pay clients. Actimize solutions enable financial
institutions to increase their insight into real-time customer behavior
and improve risk and compliance performance.

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TIO & DOLEX

TIO Networks financial services network and Dollar Express
money transfer company have signed agreements whereby the former will
provide the latter Bill Payment Automated Programming Interface (API)
payment processing services at its money transfer branches. With the
solution, DolEx will process bill payment transactions with TIO’s direct
biller portfolio, allowing users to pay wireless, utility and cable
bills within the TIO portfolio. TIO provides secure access to expedited
payment service at over 10,000 endpoints in its processing network while
DolEx serves millions of consumers throughout the Latin American with
branches across the United States.

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Encore Capital Group Names New Chairman

Encore Capital Group has appointed George Lund, a current
member of the Board and its Audit Committee, to the Chairmanship of the
Board. Lund, who was elected to the Board in September 2007, brings 20
plus years of senior executive experience from the banking and credit
card industry to the Chair and is part of the Board’s commitment to
increase the company’s growth and to provide additional executive and
strategic support to the management team. Prior to joining Encore’s
Board, Mr. Lund was Chairman and CEO of BANKFIRST and led its growth
from $20 million to $1 billion in assets.

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SCX & REV

To lead efforts at generating commercial availability of new and
emerging payment solutions to underserved consumers throughout the
region, SCX Global prepaid cards has joined the Rev Worldwide network of
payment companies through the MPOWER Ventures portfolio for undisclosed
terms. Now designated “Asia Pacific Limited,” SCX Global offers such
products as its “Canvas” Visa card and “VCARD” virtual Visa prepaid
products to the more than 300 million underbanked households and
immigrants throughout the Asian-Pacific. With these developments, SCX
Global will continue supporting current partnerships and consumer
products, only with more resources such as access to “MPOWER Labs”
global research and development. The Rev Worldwide network of companies
is focal on providing end-to-end payment solutions to bring financial
empowerment to underserved markets with convenient payment methods.

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Charge Notification Services Gets Underway

Two industry veterans have teamed up to launch a proprietary and patented credit, debit card and ATM transaction security service in the U.S. Ivan Ochoa and Daniel Davila are leading the newly formed Charge Notification Services Corporation. Ochoa has 25 years in the financial services industry include executive positions within American Express and MasterCard, where he was Chief of Staff for Latin American countries. Davila’s background includes 16 years at American Express where he was a Senior Director within the Global Network Services division and more recently, two years as VP/Chief Risk Officer of the credit card division at Russian Standard Bank. The premise of the
C.N.S.C. service is to put the cardholders in control of their own identity security by instantly advising them via SMS to their cellular telephones or PDAs each time a charge or withdrawal from a C.N.S.C. covered card is made.

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Debit Cards for Guns Pays-Off in Chicago/NYC

Prepaid debit cards issued by J.P. Morgan were used as an incentive to get 7,500 firearms off the streets of Chicago and Brooklyn.
Police in Chicago recently collected more than 6,800 firearms during the
city’s “Don’t Kill a Dream, Save a Life” gun turn-in program.
Participants received $100 J.P. Morgan prepaid debit cards for weapons
and $10 cards for BB guns, air rifles and replica guns. Since 2006, more
than 18,000 guns have been collected. The program is managed by the
Chicago Alternative Policing Strategy Office with administration support from Carlson Marketing Worldwide. A recent program sponsored by the New York Police Department and the Brooklyn district attorney’s office netted almost 700 guns. People who dropped off guns received a $200 J.P. Morgan prepaid debit card and a $20 card for BB guns and air pistols. Overall, 697 functioning guns were collected, including 204 revolvers, 193 pistols, 226 rifles and shotguns and 12 assault weapons. The guns will be melted down into hangers to be used at dry cleaners.

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