Merchant

Capital One Financial lost data from as many as tens of millions of credit card applications after a Seattle woman hacked into a cloud-computing company server, federal prosecutors in Seattle said.

The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.

Consumers are looking forward to $125 settlement checks from Equifax Inc. stemming from a data breach two years ago. Hackers, however, are using the claims as another opportunity to steal their personal information.

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.

The new accounting standard meant for publicly traded firms creates greater headaches for privately held community banks.

As checkout-free stores dramatically reduce — or even eliminate — the need for point-of-sale devices, terminal makers are turning their focus to multichannel services that can keep younger, digital-savvy customers coming into stores.

Banks and fintechs such as payment apps depend on one another a lot more than their marketing messaging would lead you believe. The question is no longer whether they can partner, but how they can work together to optimize those synergies for one another, writes Flywire's Mike Massaro.

House lawmakers go light on BB&T-SunTrust merger; Santander Bank names longtime MUFG Union executive its CEO; the fintechs trying to solve America's retirement problem; and more from this week's most-read stories.

A stronger U.S. economy paved the way for Toast and other companies like it, such as Bolt and Due, to find their own niche against PayPal, Stripe and Square when it came to serving small restaurants or coffee shops with point-of-sale hardware and software.