The Latest

Auditors performing a review of Ocwen Financial padded time sheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.

The company was set to sell a 24% stake in itself to buy two Tennessee banks but has restructured the arrangement to avoid a potential conflict cited by a regulator.

The nonprofit Bank On certifies banks that offer deposit accounts with minimal fees. It is one of many initiatives designed to bring more consumers into mainstream banking.

Retail banking chief Mary Mack made several changes, including restructuring leadership in the Western region, where some of the worst incidents in the Wells scandal were said to have occurred.

Processors are investing billions of dollars to build huge menus of tools for retailers that may no longer have the time to work with multiple vendors. These transformations are years in the making, and each investment or acquisition has the potential to dramatically change the competitive landscape.

To capitalize on the current market environment, CUs need a solid auto-decisioning strategy in place to manage the increased volume of MBL applications while mitigating risk and delivering top-notch service to members.

The combined CU will operate under the banner of The Partnership FCU.

ATMs tend to run on older versions of the Windows operating system, which potentially makes them targets for ransomware that preys on such vulnerabilities.

Singapore’s Oversea-Chinese Banking Corp. (OCBC) will soon expand acceptance of its person-to-person mobile payments app to local merchants.

Good causes, great times and more ways CUs are living the credit union difference.