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CHICAGO — Financial institutions have fallen behind the payments innovation curve, though they can catch up quickly by adopting the faster payments initiatives that are accompanying mobile and digital transactions.

What happens when you combine mobile wallets with the emerging hype about beacons? You get a winning combination for retailers that boosts shopper loyalty and in-store spending.

NASHVILLE, Tenn. — Volunteer Corporate CU CEO Rick Veach will retire at year end, with current SVP and CFO Jeffrey Merry stepping up to the chief executive role effective Jan. 1.

The Federal Deposit Insurance Corp.'s second-quarter industry update showed steadily rising loan balances making up for persistently tight net interest margins.

CPI Card Group, which makes payment cards for firms including Bank of America and American Express, aims to raise about $300 million in an initial public offering, according to people familiar with the company's plans.

Lead Bank in Kansas City, Mo., is poised to open a special branch designed for millennial entrepreneurs. Not only can these commercial customers bank in the techie, garage-like space, but they can actually work there, too.

CPI Card Group Inc., which makes payment cards for firms including Bank of America Corp. and American Express Co., aims to raise about $300 million in an initial public offering, according to people familiar with the company’s plans.

Card payment acquirer and payment service provider EVO Payments has bought Citigroup’s merchant acquiring business in Mexico for an undisclosed sum.

Talented lenders and anxious clients should expect a full-court press from Pennsylvania's community banks as they look to take market share from of the state's newcomer.

Ebrahim Shabudin, former chief operating officer and chief credit officer at United Commercial Bank in San Francisco, has been sentenced to 97 months in prison for securities fraud related to the bank's failure.