Fintech

The company will pay $42 million in cash for the parent of Main Street Bank in southeastern Michigan.

MoneyLion and Varo say familiarity with existing customers — whom they already offer savings, investment and personal finance products — will help them make smart credit decisions.

In a sign of how much Walmart Inc. is betting on e-commerce, the retailer’s revamped credit-card program with Capital One Financial Corp. offers better rewards for online shopping and checking out with its mobile app.

The company will pay $29 million for Cornerstone Financial Services.

The Tennessee company will gain access to the Bowling Green, Ky., market as part of the $52 million deal.

Months after retooling its Amazon Go store checkout process to accommodate customers who prefer to pay with cash, the e-commerce giant had added a way for consumers to pay for Amazon e-commerce purchases with cash at U.S. Western Union outlets.

A new registry aims to make it easier for credit unions to set up voice banking capabilities, but it remains to be see if consumer demand is there for this service.

During a probe that grew out of the Wells Fargo scandal, BofA has acknowledged instances of "potentially unauthorized" accounts but said that the number of examples was "vanishingly small."

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

Travelex is rolling out a suite of B2B payment services through a new API-based platform and sandbox.