Retail & Commercial

MasterCard does not plan to mimic Visa's recent move to develop a private-label processing network for banks like JPMorgan Chase, but CEO Ajay Banga acknowledges that if more institutions pursue the strategy, the card network will have to consider it.

Canada is presenting many opportunities to the payments companies operating within its borders and in the U.S. Here are some of the most recent examples.

CtW Investment Group, a union-backed organization that owns roughly six million shares of JPMorgan Chase, has called on shareholders to vote against three directors on the risk policy committee and the head of the audit committee. The move was reported Friday by The New York Times.

CoBank in Denver reported a decrease in quarterly profit as loan yields fell and provision for loan losses increased.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

U.S. prosecutors are pursuing guilty pleas, criminal convictions and "significant monetary penalties" from banks and their employees in the global investigation into the rigging of benchmark interest rates, a senior Justice Department official said.

Experts say the Consumer Financial Protection Bureau backed away from stiffer requirements after two powerful consumer groups raised fears that they would drive small banks and credit unions out of the remittance business.

The longer yields stay low, "the bigger the problem becomes for banks," UMB CEO Mariner Kemper says. A low cost of funds helps UMB resist temptations presented by cutthroat competition and looser loan terms, Kemper adds.

Groups opposing the Visa Inc. and MasterCard Inc. multibillion-dollar settlement of swipe-fee price-fixing claims won't be held in contempt by a federal judge for failing to fully correct websites he found misleading.

The Texas Bankers Association has selected Ignacio Urrabazo, the chief executive of Commerce Bank in Laredo, to become its new chairman.