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The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.

The financial services industry has been using artificial intelligence for decades in trading, and as the technology gets smarter it’s being tested more often with payments as well.

As the House Financial Services Committee prepares for a hearing on the struggles of chartering new financial institutions, CU observers debate whether or not the credit union movement – amid an ongoing trend of industry consolidation – actually needs any new entrants.

The underbanked rely on mobile access more than online or in-person contact. Therefore, the U.S. must follow developing countries’ leads and let consumers sign up for mobile-only accounts.

American Express Co., the biggest credit-card issuer by customer spending, paid Chief Executive Officer Ken Chenault $22 million for his work in 2016, a 19 percent increase from a year earlier.

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.

Citizens will pay about $40 million in cash and stock for the $269 million-asset Wells in a deal set to close in the third quarter.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Square adopts voice tech; Yes Bank adds a bot in India; HCE diversifies bus payments; Linked2pay diversifies its ISO pitch.

The grandson of the oil titan and the former head of Chase Manhattan passes away at 101; Wells reports biggest drop in new account openings since the scandal.