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Receiving Wide Coverage ...Another hit: Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit in which it was accused of overcharging homeowners for appraisals ordered after the borrowers defaulted on their mortgages. The plaintiffs allege they were charged $95 to $120 for a service that cost the bank $50 or less. Under the proposed settlement, Wells will mail checks, averaging $120 each, to more than 250,000 customers whose home loans were serviced by the bank between 2005 and 2010.

Omnichannel commerce demands multiple layers of technology, and each layer adds a risk of latency and friction at time when payment companies can least afford it.

While much of the focus on chip cards is rightly placed on security, there's also a relationship building factor as consumers become aware of the benefits.

Fifth Third Bancorp in Cincinnati has named Aravind Immaneni chief operations and technology officer.

Freddie Mac's credit risk transfers come with a hefty price tag, but are ultimately still worth it, according to Chief Executive Don Layton.

If Sen. Sherrod Brown becomes chairman of the Senate Banking Committee, he is likely to focus on toughening rules on the biggest banks, conducting oversight of scandals like the one at Wells Fargo and granting regulatory relief to smaller institutions.

Progressives are already pushing Democrats to appoint another Wall Street reformer to the Banking Committee if they win back the Senate, but other considerations, including the 2018 midterms, will play a significant role in who is chosen.

Some former customers of First Niagara Bank in Buffalo, N.Y., which was bought by KeyCorp last month, will receive up to $22 million in refunds of overdraft and bounced-check fees, according to a recently disclosed regulatory order.

Disintermediation is so five years ago, according to Cross River Bank in New Jersey. It just raised $28 million from Silicon Valley. Now, it wants to enhance its compliance system so it can partner with "riskier" fintech startups and, effectively, enable the industry's so-called disruptors.

Payment security isn’t the highest priority for millions of consumers who increasingly use smartphones to buy games online, a new study suggests.