Fintech

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

The McLean, Va., company dialed back its lending in the quarter as credit quality in several business lines weakened.

The mutual, which agreed to buy First Colebrook Bancorp, had recently opened a limited-service branch in Portsmouth, N.H.

TCU Insurance Agency acquires Winey Insurance Agency, adds clients.

The $73 million CU is transitioning to a state charter to expand to other communities

Deserve wants to deliver credit cards to students and underbanked young adults through a system that underwrites credit without relying on FICO scores and instead by judging the applicants on their future potential.

Deserve is offering unsecured cards to young adults who do not have traditional credit scores. The Silicon Valley startup uses a proprietary algorithm that analyzes bank account activity to evaluate the likelihood that borrowers will repay.

It is often difficult to imagine how something will disrupt an industry because it may seem that the industry is already functioning with no problems. But there are inefficiencies that may not be apparent, writes Mariam Nishanian, a representative for Dentacoin.

The U.S. and Canada are far behind Europe and Asia in contactless adoption in general. A handful of mass transit agencies are stirring hopes about NFC fare payments, but even these cities are taking a cautious approach to open-loop payments.

For the second time in less than a week, First Data has found an already speeding car to hop on board in the company's strategy to cover as many digital commerce bases as quickly as possible.