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The Michigan company's profit benefited from a larger balance sheet and a reduction in merger-related expenses.

Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.

The company agreed to buy MainSource Financial in Indiana for $1 billion, creating a Midwestern bank that will have more than 200 branches and $13 billion in assets.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Wells Fargo mistakenly leaks data; Canadians learn more about fintech; UniCredit embraces instant payments; A look at ransomware payments.

Great service is important, but in the changing financial services landscape, credit unions aren’t likely to get top-of-wallet status from members without a digital payments strategy.

ABN Amro is enabling its Tikkie social P-to-P app to send tuition payment requests to students, a dramatic expansion from the transaction types the bank designed the app for.

The incumbents, such as Visa, Mastercard and First Data, are prepared to compete in all segments of the market, writes Subhajit Das, a visiting research fellow at the Christensen Institute from Tata Consultancy Services.

Visa is developing its first international transaction processing centers — one in the U.K. and one in Singapore — on the heels of other moves to accelerate digital payments growth globally.

The federal agency's investigative report concludes that crowdsales of blockchain tokens known as initial coin offerings may need to comply with securities laws.

Strong gains in interest and fee income offset higher expenses and chargeoffs at the Kansas City, Mo., company.