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Banks have been pressured to improve diversity in leadership; Visa reports higher volume while PayPal says Venmo now contributing.

Teen debit app raises funds; Amex invests in virtual agent; and other information you need to start your day, from PaymentsSource and around the web.

Digital payments and new financial services add complexity to the rules, says Joel Sherwin of Weinberg Gonser LLP.

The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.

Citigroup promoted Jane Fraser to president, its second-highest post, making her a likely candidate to succeed CEO Michael Corbat and someday become the first woman to run one of the largest U.S. banks.

Readers react to Regions Financial's plan to replace its core deposit system, a House bill meant to curb jobs moved overseas, a resurgence of consumer complaints against the credit bureaus and more.

Visa is becoming more reliant on the businesses that it could have easily considered rivals just a few years ago.

The Los Angeles bank is taking its wealth management and entertainment financing businesses to Miami and Long Island as part of its effort to expand nationally.

The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas.

The combination of low unemployment, rising wages and falling interest rates means more households are taking out loans for big-ticket items like speedboats and mobile homes.

One more company has officially jumped on the free stock trading bandwagon. Over the next few weeks, Jack Dorsey’s Square Inc. will start allowing customers to buy and sells stocks for free on its cash payments app.

Leveraging new technology and APIs, Fiserv has rolled out CheckFree Next, a major update of the core CheckFree bill payment technology Fiserv acquired in 2007.

The online lender posted a profit for the sixth consecutive quarter, as higher margins helped offset a decline in loan originations.

The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.

American Express has updated its classic Green card with a new set of travel and dining perks and a significantly higher annual fee.

Rakefet Russak-Aminoach, who will leave the company at the end of the month, has raised net profit and lowered costs by revamping its technology and culture.

The 2018 Statistical Report from the World Council of Credit Unions shows the industry continuing to grow, though 80% of global assets are held in North America.

PayPal announced a record-breaking quarter on multiple fronts including overall growth in total payment volume , yet one issue still dogs PayPal — it loses money on the majority of Venmo users.

As requirements change, open standards can help governments feel confident that solutions are agnostic, flexible and safe from vendor lock-in, says the OSPT Alliance's Luiz Guimaraes.

The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Commodity Futures Trading Commission and the Securities and Exchange Commission announced Thursday they had joined the Global Financial Innovation Network.