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The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

Japan has long been known for its heavy use of cash, which is a burden for banks that are trying to move more services online. Maintaining ATMs alone costs about 700 billion yen ($6.6 billion) annually and another 100 billion yen is spent handling cash at branch counters, Nomura Research Institute estimates.

Beijing DMall E-commerce Co., an online retail service provider backed by Chinese supermarket Wumart Group, is planning an initial public offering in the U.S., according to people familiar with the matter.

Local payment methods can win big at e-gaming

Debit is a powerful tool for consumers, an important revenue source for financial institutions and a critical payment method for merchants, and it's importance has grown during COVID-19.

A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand.

The Houston-based lender is working with financial advisers to solicit interest from potential buyers, according to people familiar with the matter.

Marqeta reached a $4 billion valuation over the last decade focusing only on prepaid and debit card issuing, and now it’s retooled its digital platform to issue credit cards, too.

A report says the Fed has approved the bank’s risk management proposal, although it’s not home free yet; JPMorgan Chase is investing $200 million to help minority firms become Fortune 500 giants.

Rapid changes in payments and regulations have blown open the door to new ideas, creating frontiers for fintech investors. Javier Perez hopes three decades of experience will help him have an early read on startups.

For years, many companies have spoken about becoming more digital, transforming their business and reducing waste, but always in the context of those journeys being multiyear projects.

Daily edition for February 18, 2021.

Election-reform advocates say the American Bankers Association and other organizations should take into account candidates’ commitment to democracy, not just their stances on issues, in directing donations.

The longtime leader joined State Employees' Credit Union, the second-largest CU in the nation, in 1975 and was named CEO in 2016.

Comerica, Regions and Frost Bank closed hundreds of branches statewide while others ran them at reduced capacity or on power generators to help ease the strain on the state’s overwhelmed power grid.

Paybby, whose founder wanted to address disparities in the financial system after the George Floyd protests, is working with banks and others to develop products especially for underserved communities. They include a debit card that substitutes for food stamps and an app that temporarily sweeps cash into cryptocurrency.

Amex is giving consumers more details about certain purchases with Digital Receipts, starting with big-tech merchants and Square.

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

Acquiring AmeriHome would provide the fee revenue the Phoenix company seeks to compensate for low interest rates and tepid commercial loan demand. The deal also would allow it to reinvest billions of dollars of excess liquidity.