Americas

The company will pay $43 million in cash for a bank with seven branches and $209 million in deposits.

With margins under pressure and competition intensifying, a number of community banks are zeroing in on underserved markets.

The German mobile bank backed by Peter Thiel is pressing ahead with its U.S. expansion, betting it can grab share from established lenders and credit-card providers with free accounts, fewer fees and phone alerts that nudge them toward better financial choices.

The Jacksonville, Fla.-based credit union is the initial investor in PayverisCU, which will help members with financial wellness and money management.

With the loan-to-savings ratio at its highest point in four decades, some CUs have limited options to boost their funding.

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

A fight between Democrats and Republicans over a proposal to let the SBA’s Office of Advocacy challenge rulings made by other government agencies is threatening to hold up funding for small-business loan guarantees.

Jason S. Lee is joining the Summerville, S.C.-based institution as president and chief operating officer but he will eventually take over as CEO.

Millyard Bank is on a course to open by the end of this year.

The question of upgrading to 3D Secure 2.0 authorization will become easier for European e-commerce merchants if it proves to be a path to compliance with a provision of PSD2, the revised Payment Services Directive.