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Mark Horwedel, the outgoing Merchant Advisory Group CEO, wasn't always on the merchants' side. Through much of the 1970s through 1990s, his career path placed him firmly in the world of bankers.

The money flowing into alternative merchant acquiring is feeding an arms race, with each new deal adding pressure to become an automated one-stop shop for small businesses.

Readers respond to Mulvaney's changes to the CFPB's consumer board, weigh a proposal regarding fair lending, react to adoption of pot banking regtech and more.

The California company also benefited from higher interest rates and double-digit loan growth.

The credit union plans to retain all employees of Oculina Bank, whose CEO says the merger will allow Oculina branches to provide more products and services.

The person-to-person network also saw $28 billion in payments in the quarter and it added more bank members.

The $1.1 billion credit union is set to acquire the $350 million Oculina Bank, subject to regulatory approval.

The Vatican's recent criticism of credit default swaps is reigniting a debate about the use of such financial products.

A smaller tax bill and a double-digit growth in card loans offset weakening credit quality at the Riverwoods, Ill., company.

Synchrony Financial said its credit-card deal with Walmart won't be renewed and will expire next year. The largest issuer of store cards said Thursday that it's evaluating whether to sell the $10 billion in balances or retain the portfolio and convert qualifying customers to general purpose credit cards.