Fintech

Cash is resilient, especially during times of crisis or uncertainty. But there are significant efforts to make cash less relevant in areas where it has typically been a mainstay.

The company agreed to buy Commercial Bancshares for $59 million in stock.

Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years.

Macy's is not alone, as more companies find success after upgrading loyalty programs, writes Tom Caporaso, CEO of Clarus Commerce.

Same-day ACH debits rolled out last month, a year after same-day credits, cutting processing time for these payments from a couple of days to a few hours — but for many emerging use cases, that’s not fast enough. And debit is filling the void.

Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.

Bob Ramsey, who had worked for FBR Capital Markets for more than a decade, will handle investor relations and strategic planning at Customers.

The Montana-based credit union has returned earnings to members each year for the last 20 years.

Mike Kennedy is OFX's new president for North America, providing more local digital payment experience for the Australian-based international transfer company.

Now in its sixth year, the annual event is being marked by credit unions in at least 18 states.