Fintech

You thought love triangles were complicated. The CEO of Sunshine Bancorp in Florida spoke with nine banks about buying the converted mutual while eyeing three possible acquisitions. The company sold to a buyer that bought another bank at the same time.

The desperation in Puerto Rico for life's essentials — food, gas, water and electricity — in the wake of Hurricane Maria illustrates the need for payments providers to move as quickly as possible to get the U.S. territory in a position to reinstate some semblance of modern commerce.

Following an antitrust review that lasted almost a year, the approval would appear to cement The Clearing House's status as the front-runner in a race to modernize the U.S. payments system.

The Federal Reserve's nationwide preparedness plan for cash emergencies is being put to a unique test in Puerto Rico. Stocks are being replenished with daily flights, but the lack of power to ATMs and branches is contributing to reports of cash shortages.

The explosion of interest in digital assets this year, and the multiplying of their market value, are making cryptocurrency debit cards newly attractive. Banks could partner with intermediaries or issue the cards directly, but obstacles remain before that day can arrive.

A form of digital money known as Monaco gained as much as 695 percent in value since May 17, when its issuing company tweeted that it would offer a Visa Inc.-branded payment card.

The company would not say where the jobs are based or how many positions are being eliminated. The layoffs come as Capital One's investments in digital technology are yielding efficiency gains.

Aberdeen Proving Ground FCU updates brand, honors roots.

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.

Card fraud is declining, making smaller merchants and other chip card laggards even larger targets, writes Allen Friedman, director of payment solutions at Ingenico Group, North America.