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The leaders of the biggest U.S. banks are likely to be summoned to face questions from the Financial Services Committee, an early sign that the financial industry will endure tougher scrutiny under a Democratic-controlled House.

Keith Wilton will also succeed Walter Kaczmarek as president in August.

Proposals that would have financial firms monitor or refuse to finance certain firearms purchases are misguided, putting the onus on unelected corporations.

The largest banks are expected to soon receive requests to appear before the House Financial Services Committee; banks taking steps to curb scams.

It could be time for credit unions to rethink emergency plans after a second active shooter struck a bank branch in about four months, industry experts said.

The information you need to start your day, from PaymentsSource and around the Web. Today: Discover's deliquencies on the rise; Brexit fears ding B2B; Hyperledger's Grid bolsters payment ecosystem; India's Paytm looks for more markets; New York awards new crypto licences.

Due to growing consumer expectations for 24/7 digital access and real time decisions, some organizations such as financial institutions and merchants have reduced the more stringent manual application review processes in order to open accounts quickly, according to Michael Lynch, chief strategy officer at InAuth.

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K., and across the EU.

Delinquencies, which are on the rise across financial services, clouded an otherwise solid quarter for Discover Financial Services.

Readers weigh in on the Consumer Financial Protection Bureau's payday rule, consider the gender wage gap in banking, debate restrictions to membership at the Federal Home Loan banks and more.