Fintech

The days where an employee could progress from the teller line to the corner office are largely gone, and as more and more baby boomers leave the job market, many top-level positions at credit unions are being filled by what might have once seemed unthinkable: former bankers.

First-quarter results from U.S. Bancorp and PNC Financial Services Group shows banks have little choice but to wait until the Fed raises interest rates. They have cut expenses almost as far as they can go, and fee income is limited in how much it can offset narrower spread income.

MasterCard Inc. and Target Corp. are in talks about a settlement in which the retailer would pay banks about $20 million for costs they incurred in its 2013 data breach, a person familiar with the matter said.

Several issuers use card controls to soothe consumer fears, and Discover is building on this foundation to engage consumers at the network level and encourage more frequent and sophisticated use of mobile devices.

When it comes to succession planning, some credit unions have a problem. Almost one-third of CUs have no idea who their next CEO will be and only about 60% have any succession plans in place.

MetaBank has teamed up with Univision Communications, a media company serving Hispanic Americans, to become another issuer of its prepaid card.

Two companies are working to make gift cards not only interactive, but almost self-aware.

Marketplace lenders are aggressively marketing their loans as a way to refinance expensive credit card debt. And with more affordable interest rates and faster loan application processes, there's reason to believe that firms like Lending Club and SoFi will beat out banks.

Executives at card networks and issuers are concluding that tried-and-true marketing methods can still expand card acceptance in an increasingly digital world.

AUSTIN, Texas — People judge others all day long — and many of those judgments tend to be negative. But good leadership requires a substantial dose of tolerance, says Garrison Wynn, an author and motivational speaker who has a background in manufacturing, telecom and financial services.