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President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Researchers hack Visa in six seconds; China's on top of the fintech world; e-commerce mitigates currency woes in Africa; an old smartphone attack is back.

Receiving Wide Coverage ...Fintech Boost: The Office of the Comptroller of the Currency announced a proposal Friday that would grant special limited-purpose banking licenses to financial technology firms that would give them "greater freedom to operate across the country without seeking state-by-state permission or joining with brick-and-mortar banks," as the Wall Street Journal described it. "The move could open the door to more competition between the old and new financial firms, and provide a bigger opening for some large tech companies to consider new ways to offer digital payments or other services."

Ben Carson accepted Donald Trump's offer to lead the U.S. Department of Housing and Urban Development, according to a statement from the president-elect's transition office Monday.

Ben Carson accepted Donald Trump's offer to lead the U.S. Department of Housing and Urban Development, according to a statement from the president-elect's transition office Monday.

Community Bank System in DeWitt, N.Y., has agreed to buy Northeast Retirement Services in Woburn, Mass.

While there are a handful of payment pilots underway, the real benefit of blockchain for banks is a long-term proposition--and most early projects will be internal.

Kevin S. Kim thought he was joining a bank board to bring youth to an aging slate of directors. Eight years, four acquisitions and a banking crisis later, he is now the chief executive of the nation's largest Korean-American bank.

American Banker is pleased to bring you Breaking Banks, hosted by Brett King, and featuring the editors of American Banker.

New chief executive Angela Head formerly served as the credit union’s chief operating officer.