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The payout included bonus dividends and a 7 percent refund of loan interest paid by members.

The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions.

It may take several more months of testing before it is deployed in a payments application, but a new money transfer specification the NFC Forum has developed carries the organization's promise of becoming an alternative to QR-code technology.

The information you need to start your day, from PaymentsSource and around the Web. Today: Sam's Club extends scanning technology; New York subways replace newstands with vending machines; W3C and FIDO finish authentication specification; Programmers use radio waves to make cryptocurrency payment.

The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.

As companies invest heavily in artificial intelligence and other high-tech defenses, it is becoming more apparent that criminals are investing in equally powerful technology.

Financial institutions must manage compliance budgets without losing sight of primary functions and quality control, writes Chad Hetherington, global vice president of professional services for NICE Actimize.

The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.

The banks have no choice but to pick a new name, marketing experts say, but good luck: The best ones may already be taken, made-up names can sound forced, and any change might nudge more customers to rethink their loyalties.

Add the Alabama company to the list of lenders that are disappointed in the returns on loans made through car dealers and their inability to build broader relationships with those borrowers.