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Lenders grew more optimistic that Congress will undo or narrow the loan-loss accounting standard after members of a House subcommittee assailed Russell Golden for approving the rule without studying its impact on credit availability.

Data security and infrastructure custodian Very Good Security (VGS) received a strategic investment from Visa, which has been spending heavily this week on fintech.

Visa's deal to acquire the data aggregator Plaid is likely to have ripple effects throughout the industry, including reduced tension between banks and fintechs over data sharing.

Alan Kline, a 22-year veteran of American Banker, has previously served as editor-in-chief of US Banker.

Savings for the top six U.S. banks from President Donald Trump's signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.

Plaid may be a more problematic acquisition than Visa made it out to be. But without Visa, those problems were likely to get a lot worse.

Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.

In partnership with state leagues, the credit union trade group is committing to $7 million in campaign contributions for the upcoming presidential and congressional contest.

French mobile payments app Lydia has raised €40 million (about $45 million) in a Series B fundraising round led by Tencent Holdings, owner of WeChat Pay.

The House Financial Services Committee chair asked two regulatory agencies about what steps they've taken to prevent fabricated comment letters as they invite the public to weigh in on Community Reinvestment Act changes.

Dennis Hanson, the credit union’s longest-serving chief executive, has announced his plans to retire. A new leader will take the helm in April.

Having grown up with smartphones in hand, these digital natives crave high speed and instant results, says Wirecard's Susanne Steidl.

Executives at Beach Community want to pursue more acquisitions in central Florida.

The Massachusetts savings bank will gain branches in two communities as part of the acquisition.

The acquisition will vastly expand Visa's platform, giving it nearly Amazon-like influence.

Morgan Stanley’s profits rose 46%; the deal pressures China to open its financial services sector to U.S. firms.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

Fearful of being the last one standing, banks and credit unions of all sizes will become more aggressive about real-time payments — or risk getting left in the past.

The ransomware attack chain uses a number of methods to infect an organization's systems, which can easily bypass an entire organizational security framework in seconds, according to Exabeam's Richard Cassidy

Daily edition for January 16, 2020.