The Latest

While most financial institutions have been focused on upgrading their digital channels, Andrews Federal Credit Union in Maryland listened to its customers and modernized its newest branch. Among the new features are video teller machines, touch screens offering online and mobile banking tutorials and a game area for children.

Daniel Baines is stepping down after 40 years in the Michigan credit union's top role. He will be succeeded by Joseph Heintskill, its chief financial officer.

By 2023, the Federal Reserve expects to launch a service that would allow businesses and consumers to complete payments in real time. But a digital currency it's now studying could have similar benefits — while potentially removing the need for bank intermediaries.

Eight months after its debut, more than 10,000 customers have signed up for the service, which allows transgender and nonbinary consumers to use their chosen name.

American Express is planning to allow employees to work from home for at least part of the week on a permanent basis as the finance industry continues to unveil plans to bring staff back to the office.

The Biden administration will award $1.25 billion to hundreds of community lenders in an effort to speed the economic recovery from the coronavirus pandemic, Vice President Kamala Harris will announce on Tuesday.

The company's Drop-In Components allow developers to verify important data without extensive coding.

Six Clovers, a digital payments company founded by two former PayPal developers, designed its Rapid platform to enable fast cross-border transactions using cryptocurrencies backed by government-issued money.

The data analytics provider has deployed cloud hosting to scour international payments for signs of fraud and money laundering.

KMD Partners, which makes high-interest rate loans through its CreditNinja brand, has agreed to acquire the $11.7 million-asset Liberty Bank. The purchase is likely to draw scrutiny, but the companies argue that it will help borrowers with lower credit scores qualify for less expensive loans.