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Seneca-Cayuga Bancorp wants a limited-use charter to maneuver around a New York law that bars mutuals from working with municipalities.

The companies have built a product that attempts to beat the current standard of next or same day settlement.

The information you need to start your day, from PaymentsSource and around the Web. Today: Breach at Canadian banks; Indonesian post office offers remittance; Ripple's cross-border tech picks up speed; Fifth Third collaborates on AI to improve merchant services.

The S&P 500’s financials sector drops more than 3%; former Amex chief’s venture capital firm is backing a credit scoring company.

It's vital to be in touch with consumer shopping and payment tastes for individual retail categories and consumer groups. That may or may not include removing cash and human interaction, according to Andrew Wind, principal product manager at Worldpay.

As consumers spend more time interacting over social media and messaging platforms, those providers are making sure that they can also make payments related to any topic of conversation. But the arrival of Apple Pay Cash is complicating the market.

Despite Tuesday's blip, many banks have seen double-digit gains in the months since the Dodd-Frank reform law was unveiled. There's good reason to think the run-up will continue.

Key hires at one credit union put focus on in-branch experience and more new hires and promotions.

The company will also acquire three branches in Worcester County, Mass., when it buys the parent of Milford National Bank and Trust.

Mick Mulvaney, the agency’s acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action.