Banking

The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach.

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.

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.

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.

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

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.

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.

Arkansas Democrat-Gazette FCU, originally chartered to serve newspaper employees, has received regulatory approval to merge into a larger institution.

The online platform lender Kabbage is making the move beyond just providing working capital loans to small businesses, putting it in direct competition with alternative acquirers and payment companies.

Facebook CEO says the company won’t purse Libra anywhere if U.S. regulators disapprove; the agency says “guidance” was actually “rules.”

Transit tech advances in Australia; Hostile nations attack U.K. payments; Klarna teams with Wayfair; and other information you need to start your day, from PaymentsSource and around the web.

Midsize players like BankUnited, BOK and Fulton Financial plan to rely on selective M&A, catering to niches overlooked by big banks, aggressive recruitment of commercial lenders and other strategies to stimulate revenue growth.

Originally formed to help consumers spot recurring charges, Truebill is adding banking and financial management features to its app.

Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.

Executives say they are passing on more loans as bank and nonbank competitors cut rates and forgo traditional safeguards.

It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens.