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Varo Money, an app designed for people who want to exclusively bank on their cell phones, announced Tuesday that it has filed formal applications for a national bank charter, adding another credit union competitor to the banking landscape.

Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time.

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: Apple Pay expands with JCPenney; Western Union, BP team in Australia; Citi collaborates with Cornell; Three Square Market plans ID chips in staff.

A controversial move to stop Canadian CUs from using the words “bank” and “banking” has rallied the movement there, but U.S. institutions are left wondering if such a move could happen here, particularly in light of some recent states’ measures.

Varo Money, an app designed for people who want to bank exclusively on their cellphones, announced Tuesday that it has filed formal applications for a national bank charter.

Former Comptroller of the Currency Eugene Ludwig shares stories from his days as a top regulator during the Clinton Administration and the reasons why bank rules should be reviewed and maybe rewritten.

As ATMs on large bank networks increasingly use mobile phones for account access — a trend driven in part by mobile banking — non-bank ATM operators are working to enable the same features to attract mobile-savvy cash users.

Once considered one of the strongest methods of ID, finger biometrics can now be copied and used to expertly defeat biometric authentication, writes Deepak Dutt, CEO and founder of Zighra.

Many companies in the payments industry position themselves as the answer to the competitive threat of Amazon. But that's not the only option out there.

WashingtonFirst had a sudden window of opportunity to sell itself in the latter half of 2016, but it had been preparing for a possible sale for more than two years before that, and perhaps as a result it received one of the most valuable buyout offers this year.