The Latest

Nearly a decade since the Federal Reserve last hiked the key short-term Fed Funds Rate, confusion reigns over what the central bank will do at its next policy meeting later this week, but credit unions have already taken steps to prepare for a rising-rate environment.

PeerIQ, which provides data to firms that invest in marketplace loans, has raised $2.5 million in early-stage financing.

Lloyds Banking Group has joined the list of U.K. banking companies that support Apple Pay.

Mobile payment and commerce technology provider Mozido has established a cross-border e-commerce payment connection between China and Russia, a project that resulted from its purchase of Beijing-based PayEase Corp. earlier this year.

Katie Pemble quit on Friday, the $1.7 billion-asset company said in a press release. C1 did not give a reason for Pemble's departure and did not disclose a plan for filling her posts.

The rest of the credit card industry continues to be dogged by slow loan growth, but retail-branded cards are bouncing back, thanks largely to a big push by merchants.

Associated Banc-Corp in Green Bay, Wis., has promoted a longtime executive to Milwaukee market president.

Innovate Finance, a U.K.-based fintech industry body, will open a blockchain technology research lab in partnership with the government and IBM co-cofounded Hartree Center, a high performance computing and data analytics research facility.

New York's banking regulator has reached an agreement with four of the banks developing an online message service to store records for potential access by regulators and other officials.

Even if the Federal Reserve decides to begin raising rates this September, banks are unlikely to get the boost they've been hoping for. That's because pent-up customer demand for attractive yields may force banks to raise deposit rates more quickly than they have projected.