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Social media is allowing non-celebrities to gain popularity and push consumer activity toward certain retailers to boost payments and new channels, contends Todd Grossman, CEO of Talkwalkers Americas.

An institution in California calling itself Indian Federal Credit Union purports to be operational but does not have all the required regulatory approvals.

Everything from fintechs to Amazon are threatening the financial services industry. Credit unions need a plan in place to keep up.

Loans to house flippers dropped 11% in the third quarter, indicating "possible turbulence;" the German bank may have allowed some clients to claim tax credits on stock they didn't own.

There's a growing consensus that if credit unions want their institutions to reflect growing diversity among their membership base, significant changes will also need to take place at the board level.

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard's seeking a blockchain anonymity patent; Wearables advance in Russia; GDPR compliance may hit a snag; Open banking takes shape in the Middle East.

Data regulations pressure small banks and credit unions, which could benefit from a pro-innovation regulatory environment, according to Stephen Menon, vice president of product at Finn AI.

Credit card fraud is on the rise in the U.K. with more than $2 billion being stolen from credit and debit cards over the past twelve months, an increase of 38% on the previous year. But while large scale data breaches have been heavily blamed for this surge in crime, ex-fraudster Tony Sales says one of the most pertinent reasons is a persistent lack of understanding within the financial industry of how criminals operate.

The regulatory agencies are the last word on an exemption from the proprietary trading ban, and there are no signs they will expand it beyond small institutions.

It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers.