Finance

Fintech startups have been a natural fit for the gig economy, leading Visa and Mastercard to seek them out as partners to maintain relevance.

The Georgia regional plans to open more branches in the state as it looks to loan growth and fees as a way to offset intense competition for deposits.

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.

The bank's net interest income fell to its lowest point in three years, and total revenue fell short of analysts' expectations.

Granted, the bank's earnings per share topped estimates in the second quarter, but its forecast on net interest income suggests it will be harder for JPMorgan Chase to offset declining revenue from trading stocks and bonds.

Raisin, an online marketplace that aggregates high-yield savings accounts in Europe, aims to launch in the U.S. in the next nine to 12 months.

The Connecticut company will add heft in its home state and Massachusetts when it buys the former mutual.

The company could rein in deposit costs, cut operational expenses and buy back more shares in anticipation of a Federal Reserve rate reduction. Other banks — especially big ones — could do the same.

Piermont Bank, set to open this week, will be the city's second new bank this year.

The company, based in Charleston, S.C., will buy Carolina Trust in western North Carolina for $100 million.

Hispanics are underserved by mainstream financial institutions, creating an opportunity for credit unions to step in and fill the void.

Noninterest expenses fell 2% to $10.5 billion — almost $100 million lower than the average estimate from analysts.

Investors eye how low rates, flat yield curve will affect bank profits; agency is determining if it has oversight power over Facebook’s planned cryptocurrency.

CUs in both states surpassed total asset milestones, but many business lines are growing at a slower pace than they were one year ago.

Seattle-based digital remittance provider Remitly has raised $220 million in new investments and financing to accelerate its growth in more global markets.

Vehicle payment technology startup Car IQ raised $5 million in a Series A funding round that included Citi Ventures as an investor.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Ribbon-cuttings for de novos have become more common as regulators have warmed up to the idea of granting new charters. These are the banks that have opened this year, along with more that are on track to do so.

Interest rates on CDs of six-months or longer have declined since a Federal Reserve meeting in June, according to Moebs Services.

Credit unions can reduce concentration risk and free up funding for new loans though participations but many institutions are hesitant about the process.