Fintech

The California-based institution joins a small group of CUs that represent only about 7% of institutions but hold about 70% of industry assets.

The findings of a recent TD Bank survey suggest that targeting millennials for new credit cards will require surgical risk-management as the economy lurches toward an uneven recovery.

Many consumers around the world rely on cash-based payments, even when shopping online, says PPRO's Steve Villegas.

The South Carolina company has agreed to buy the parent of Security Federal Bank.

The deal is expected to close sometime next year but is still subject to regulatory and member approval.

Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions.

New York-based earned wage access (EWA) startup Clair has raised $4.5 million in a seed fundraising round to target the small-business market.

The companies looking to bolster their presence and offer more services are hoping it will lead to greater sustainability and longevity of their platform, says Ding's Rupert Shaw.

In the two months since earned wage access (EWA) provider Immediate launched Visa Direct as a payment option, the near real-time method is already accounting for 50% of its payments.

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.