Finance

Urbana Postal Credit Union is the latest in a string of closures and rebrandings as CUs chartered to serve post office employees attempt to stay relevant.

Overall loan growth at the Tulsa, Okla., company was muted, however, as an increase in early paydowns lowered commercial real estate loan balances.

With Wirecard's value tumbling since a Financial Times report two months ago alleging an accounting scandal in its Asian operations — and a followup Wednesday reporting that half of its revenue comes from "three opaque partner companies" — the German payments processor received a lift from a €900 million ($1 billion U.S.) investment from Japan's SoftBank.

The company, which is planning to revamp its organizational structure, has seen a sharp increase in funding costs over the past year.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.

Silicon Valley, New York, London and several of China’s largest cities are the world’s leading fintech hubs, but many other locales are gunning for their crown.

Entegra Financial, which had a deal to be sold to SmartFinancial, has instead agreed to be sold to First Citizens, which offered more money and will pay a breakup fee for the initial deal.

The Decatur, Tenn.-based institution earned just $60,000 last year as its net worth ratio declined.

Now that the Cincinnati company recently completed its first bank acquisition in over a decade, CEO Greg Carmichael is pushing ahead on tech hires and expansion outside its Midwestern core.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.