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Banks have to do a better job of protecting personal information about their customers' children.

The CEO's tenure lasted just 18 months; the former FDIC chair says having Congress more involved in setting accounting standards "could well backfire on the banks."

The information you need to start your day, from PaymentsSource and around the Web. Today: R3's expanding in London; Wirecard makes a contactless play in Italy; Poshmark's breach; Nexo offers a credit card for crypto; South Korea opens testing for blockchain.

Open banking could help credit unions retain and attract new members but concerns remain around data privacy.

Investors are making bets on checkout-free retail, a category that is just as challenging as it is innovative. But it's payment technology's race to the moon, a chance to seize a favorable position in the struggle to save retail.

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

Flint will be replaced on an interim basis by Noel Quinn, head of global commercial banking. The lender, which also released its latest quarterly results several hours earlier than scheduled, didn’t give a reason for the decision.

It’s hard to time the next economic slowdown. But lenders, many with lingering memories of the financial crisis, are taking steps now to limit exposure in commercial real estate, construction and other loan segments.

These banks posted strong quarterly results at a time when many others struggled with thinner margins and rising expenses.

A fight between Democrats and Republicans over a proposal to let the SBA’s Office of Advocacy challenge rulings made by other government agencies is threatening to hold up funding for small-business loan guarantees.

This is how the firm tried to make sure no one knew.

Walmart has filed a patent application for a digital currency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank account.

Credit unions are investing in their communities in a variety of ways, including teaching financial literacy at a summer camp and donating money to local libraries.

Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.

Jason S. Lee is joining the Summerville, S.C.-based institution as president and chief operating officer but he will eventually take over as CEO.

Millyard Bank is on a course to open by the end of this year.

JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.

The CFPB is giving the public an additional 30 days so consumer groups have more time to respond.

The FDIC chief said it is critical to give the industry clarity on using emerging technologies, particularly for the thousands of community banks her agency oversees.

The question of upgrading to 3D Secure 2.0 authorization will become easier for European e-commerce merchants if it proves to be a path to compliance with a provision of PSD2, the revised Payment Services Directive.