Finance

The card builds on Mastercard’s goal of expanding products for underbanked consumers in sub-Saharan Africa.

The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.

Goldman Sachs Group Inc. is making another bet on a Latin American financial-technology startup, providing a secured credit facility of as much as $100 million to Mexico’s Konfio Ltd.

Higher net interest income and securities gains boosted quarterly profit to $62.6 billion, which was 4% higher from a year earlier. But potential trouble signs from lower interest rates may emerge.

A new kind of institution wants to make the interest rate the Federal Reserve pays to its member institutions more widely available, but that could have big implications for monetary policy.

Loans and net income continued to rise while delinquency rates improved. Other major trends continue, including ongoing consolidation amid sustained membership growth.

Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.

A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.

The case of a pastor wrongly-accused by Wells Fargo has mandatory arbitration back in the spotlight; JPMorgan started buying securities long before talk about rate cuts; more banks are turning to M&A to acquire talent; and more from this week's most-read stories.

Farmers will pay $40 million for the bank, which is in an affluent area in northeast Ohio.

The bank elevated three senior executives who could be possible successors to CEO Sergio Ermotti; the move to a new rate benchmark won’t trigger a “tax event.”

Loyal Trust Bank is the seventh proposed bank in 2019 to secure the agency's approval for deposit insurance.

Toronto-Dominion — the Canadian bank known for fat net interest margins, the difference between what a bank charges for loans and pays for deposits — saw them narrow on both sides of the border in the fiscal third quarter.

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.

Sen. Thom Tillis of North Carolina called for the panel to hold a hearing on what he termed the danger that the Federal Reserve will meddle in the 2020 presidential election.

Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says.

Institutions in the Badger State reported that lending was up by almost 6% and delinquencies remained at historic lows.

The Independent Community Bankers of America provided seed funding for Teslar Software, which supplies community banks with a platform to manage data from different internal systems.

Bond Financial Technologies' platform is designed for community and regional banks seeking fintech expertise.

Through the initiative, more than two dozen savings and credit groups have been established to serve more than 400 Venezuelans and Colombians.