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In focusing on private blockchains, banks make the same mistake companies made in the nineties when they favored private information networks over the open protocols of the Internet.

Investment Banking Revenues Drop; SoFi's New Hedge Fund

Investors have punished most energy lenders since oil prices began sliding more than a year ago. Despite a recent rally, stocks of publicly traded banks with at least 3.5% of loans tied to the energy sector have fallen by 18% since early 2015. The KBW Nasdaq bank index is down 13% over that time. Here is a look at the worst-performing energy lenders in the past year and one exception to the rule.

Obtaining money transmitter licenses in every state has been a lengthy process for WorldRemit, but one that paid off big this month when the company became regulated in California.

The third party wallets, or the “pays” as they are called, are failing to make a splash. Mobile wallets which let you pay any merchant from your smartphone are simply not a reality today.

Penns Woods Bancorp in Williamsport, Pa., has promoted Michelle Karas to chief operating officer.

Their top executives sure don't. Income streams are constrained in every business line, the economic picture remains murky, and big banks are talking about cutting more expenses again.

Mountain Commerce Bancorp in Knoxville, Tenn., has added a former California community bank executive to its board.

Technology companies like Apple and Samsung brought mobile payments to the fore and issues that led the U.S. to lag in mobile wallets have for the most part been settled. This report examines how a core group of banks are establishing themselves as pace-setters in attacking the challenge of remaining "top of wallet" as consumers migrate commerce to smartphones.

The "too big to fail" debate raises a critical question that is seldom asked, much less answered: Do megabanks serve a critical function that justifies their undeniable risk to the financial system?