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The Tennessee company has set up a $3.5 million reserve associated with the unnamed borrower.

Because various aspects of the General Data Protection Regulation were made public two years before they became official law, European lawmakers naturally felt it gave companies plenty of time to get data security compliance in place. But it appears most companies either lost track of time or haven't solved the compliance puzzle yet.

Payment processor and financial messaging integrator Volante Technologies is partnering with the Banco Base financial group to provide end-to-end payments software for domestic and international payments.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

A senior official recently criticized how some groups responded to the OCC’s initial steps to reform the Community Reinvestment Act. It’s a worrying sign that the agency will ignore concerns raised by advocates.

CEOs at Bank of Montreal and TD Bank Group say they are unlikely to touch the American cannabis industry until the laws change.

A banking lobbyist recently quoted in Credit Union Journal is painting an inaccurate picture of the industry and its tax exemption.

The bank’s biggest shareholder says Wall Street shouldn't yield its next CEO; concern that mistakes that led to the financial crisis are being repeated.

The information you need to start your day, from PaymentsSource and around the Web. Today: Attackers hit DNS servers at financial companies; Shareholder sues over Fiserv's deal to buy First Data; New sandbox; Digital ID advances in the Philippines; Russia's gas company turns to DLT.

In a unique deal, organizers of Village Financial Cooperative received $500,000 from the Minneapolis City Council as they aim for a June opening.