Fintech

Members of Southwest Colorado Federal Credit Union in Durango have approved a deal that will see the $55 million-asset shop merge into Credit Union of Colorado.

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

The upstate New York company will gain branches in Rochester as part of its $35 million purchase of FSB Bancorp.

The company will pay about $58 million in cash for Melrose Bancorp.

Many large lenders pointed regulatory restrictions on their balance sheets and reduced risk appetite to explain why they stood on the sidelines during the September spike in overnight funding rates, according to a Federal Reserve survey of senior credit officers.

Five years after rebranding as a growth strategy, small Turbine FCU has been approved to merge into Durham, N.C.-based Self-Help Credit Union.

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank.

The Federal Reserve is investigating what may have caused delays in the processing of ACH transactions that began late Wednesday and continued into Thursday morning.

Customers will be able to use the service by clicking on the QR transactions option and using their camera to scan the code that appears on the app screen.

For most companies, no role within accounts payable focuses solely on handling errors, enablement, fielding phone calls, or escheatment, says Nvoicepay's Kristin Cardinali.