Banking

Outages last week at Chime and Varo Money have executives on the defensive.

The Tennessee company has agreed to buy First Advantage, which specializes in financing manufactured housing purchases.

Credit unions have achieved success in areas like auto and consumer loans but there is still room for them to increase their home lending.

Recent years have seen a transformation in credit-card customer acquisition. This report explores how consumers are interacting with the new expanse of marketing and acquisition channels and examines where opportunities and threats to issuers may lie.

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing.

Lightspeed buys Kounta; Best Western unit breached; New York BitLicense under review; and other information you need to start your day, from PaymentsSource and around the web.

FCUs are regaining their appeal given the resources NCUA has put into helping de novos and the potential for expanded fields of membership.

Centreville Bank will pay $116 million in cash for PB Bancorp.

The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans.

Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets.

The company agreed to buy Steuben Trust for $107 million.

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins.

The $32 million merger will create a bank with nearly $1 billion in assets.

Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.

U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision.

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.

The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits.

The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.

HTC's blockchain phone; South Korea's digital ID project; Kik still kicking; and other information you need to start your day, from PaymentsSource and around the web.