The Latest

Ant Financial, the payments affiliate of Alibaba Group Holding Ltd., acquired EyeVerify Inc., to expand services using the U.S. startup’s biometric authentication technology for securing consumers’ online data and transactions.

Real estate CUSO has signed five California-based CUs and CUSOs so far this year.

Annual innovation competition brought together approximately 200 people focused on the next big tech breakthrough for CUs.

Provident Financial Holdings in Riverside, Calif., has restated earnings from its most-recent quarter after it booked higher loan-origination costs.

Community Savings in Caldwell, Ohio, has begun the process to convert from a mutual thrift to a stockholder-owned company.

New recommendations by the Federal Reserve Board are a crucial step in the direction of much-needed restructuring of the U.S. financial sector.

Two big investors in Heritage Commerce have converted some of their ownership in the San Jose, Calif., company to common stock.

Receiving Wide Coverage ...Blame game: Wells Fargo CEO John Stumpf and CFO John Shrewsberry both tried to deflect blame for the company's phony accounts scandal. In an interview with the Wall Street Journal, Stumpf "appeared to lay blame for the problems with the employees involved than with any flaw in Wells Fargo's systems or culture."

Wells Fargo has, at least temporarily, lost its title as the world's most valuable bank to JPMorgan Chase.

Nearly a year after the October 2015 liability shift, a mere 17% to 37% of all US merchants have adopted EMV POS terminals.