Fintech

The credit union service organization has returned more than $20 million to member-owner institutions each year since at least 2016.

Bangor will pay $35 million in cash to gain branches in five communities.

Wichita Falls Bancshares will gain four branches when it buys Chico Bancorp.

New York is the latest state to change its statutes regarding public deposits and credit unions as more institutions seek out strategies to boost liquidity.

The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.

Fresh off a public offering and shopping boost, Alibaba Group has entered into an agreement with Commercial Bank of China (ICBC) to build digital finance services in areas such as cross-border finance and electronic payment settlement.

Digital technology is increasingly connecting compensation and payment capabilities for contractors and creating an ability to share apps. It's a trend that’s brought Citi and PayPal together to offer flexibility and a network effect to counter fintechs.

Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages.

Consumers may be concerned about a possible economic downturn next year, but credit union marketers have no plans to curtail their spending in 2020.