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The Trump administration should not name J. Mark McWatters as head of the consumer agency, given his lack of experience overseeing commercial banks and his leadership of the National Credit Union Administration, a cheerleader for the industry it supervises.

Agency plans to address issues and regulation of cybercurrencies; OCC says the bank failed to fix problems cited in a 2012 consent order.

The information you need to start your day, from PaymentsSource and around the Web. Today: More bitcoin restrictions in China; Dash lures retailers; LG's new robots; Tech vet joins blockchain challenger bank.

San Francisco-based Arxan Technologies, which got its start in 2001 providing security tools to protect gaming and medical-device applications, says financial services companies are one of the fastest-growing sectors seeking help in barricading their mobile apps from hackers.

When taken in the context of the complete invoice and payment cycle, manual payments not only have higher processing costs to the provider and supplier, but also result in delays between processing and making payments, writes Darci Guerrein, vice president of payment operations for GHX.

Banks still have advantages in the battle against big tech firms like Amazon and Facebook, but they will need to capitalize on those to survive.

The credit union’s new name is intended to reflect its electric utility roots, as well as its growth beyond a single-SEG institution.

The merger of Parker Community Credit Union into Educators Credit Union was approved in August 2017 and will go into effect on Jan. 8.

The company, which sold about $3 million in stock through a private placement, also plans to add branches on Staten Island.

Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.