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With this sudden and swift shift that is generating thousands more digital payment transactions per day than even just a few months ago, the opportunities for fraud are rising exponentially, says the FIDO Alliance's Andrew Shikiar.

Payments technology has advanced quickly in the past decade because newcomers in the industry have operated fully, or at least partially, in the cloud.

The Texas-based institution is the third credit union to be taken over by regulators this year.

Bradley Riss is chief commercial officer at Checkout.com, a firm that acts as a payment gateway, acquirer and processor through a single channel, covering cards, passthrough wallets, stored value wallets and alternative payment options such as point of sale credit. It charges a fee based on processing and card payment costs rather than the percentage+ model that most payment API companies charge. The model is designed to make the service customized to different merchants and serve as a base to offer other merchant products.

Six years after unloading its bank unit, the tax preparation chain wants to diversify by launching a digital account targeting low- and moderate-income households. How will it differentiate itself from upstarts like Chime, Varo and Green Dot?

Mehrsa Baradaran, a University of California, Irvine, professor and former banking lawyer, has worked hard to close the racial wealth gap and could further such goals as head of the Office of the Comptroller of the Currency, wrote 34 caucus members in a letter to President Biden.

The 30-day extension comes after the American Bankers Association requested additional time to consider the rule's impact.

A federal watchdog agency determined that Almena State Bank's push into government-backed loans, supported with high-cost wholesale funding, set it up for collapse when significant credit issues arose.

Exploring whether PPP runoff will expose revenue weakness at banks; Citi, BNY Mellon earn top grades for transparency on how they pay women and employees of color; three new candidates emerge to head OCC; and more from this week's most-read stories.

The Colorado credit union has pledged to match at least $50,000 in donations to a local foundation assisting with the community's recovery following a mass shooting at a grocery store that left 10 people dead.