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The bank also reported that, among its U.S. employees, people of color earn 7% less than their white colleagues.

The U.S. unit of Mitsubishi UFJ Financial has agreed to buy a platform from GE Capital.

Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies.

The information you need to start your day, from PaymentsSource and around the Web. Today: Fiserv buys First Data; PayPal scores a ticketing contract; Open banking advances in Canada; Russian bank adopts finger payments; Faster payment group adds staff.

The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.

Ten weeks remain until Great Britain is set to leave the European Union, but the chaos of the entire Brexit process brought much of the British credit union industry's regulatory priorities to a halt.

Retail banking loans rose 5% at Bank of America, which also reported a 3% increase in consumer deposits and a 12% leap in net interest income in consumer banking.

Credit unions and smaller banks can differentiate themselves by returning to the passion for personal service that first anchored their success, and payments are central to this strategy, according to Deborah Matthews Phillips, managing director of payment strategy at Jack Henry.

Just a few years ago, tech companies imagined a world where Bluetooth beacons would push alerts to consumers' smartphones as they walked by a store or navigated its aisles. The tech isn't gone, but it's become more subtle in how it's being used.

Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.