Banking

Rep. Denver Riggleman, R-Va., explains why he’s introduced legislation requiring greater transparency over the Federal Reserve’s incoming payment system.

The California-based institution can now serve more than 3.2 million people.

Metro Bank is saying goodbye to its outspoken American founder, Vernon Hill, sooner than expected after a year that saw the 10-year-old British bank's shares collapse.

Facebook calls an emergency meeting about its planned payments network; Well Fargo report says 200,000 jobs will be lost to robots and technology.

The information you need to start your day, from PaymentsSource and around the web. Today: Amazon's supermarket takes shape; Payment companies push India on fraud prevention; NAB boosts digital receipts; Google Pay adds restaurant technology.

Linderman helped build Zions Bank into a retail force and shaped the multistate retail strategy of its parent company, but she will best be remembered for opening countless doors for women and minorities.

Dorothy Savarese will remain the Massachusetts bank's chairman and CEO.

Julieann Thurlow says Reading Cooperative Bank in Massachusetts is well positioned to help immigrants and millennials. Technology is crucial to serving both groups, she says.

Jelena McWilliams told community bankers that policymakers should be a resource for banks trying to adopt new technology.

Surety's first online bank, booyah, is aimed at college students and young grads.

The Lowell, Mass.-based institution can now serve Norfolk and Suffolk counties, along with more than 150 cities across Massachusetts and New Hampshire.

More community bankers now say that cost of funds, not regulatory expense, poses the biggest threat to profits, according to a new survey.

A shared cart that carries a consumer’s preferred form of payment throughout their purchase journey, regardless of which channel they begin and end with, can be a real differentiator for retailers.

The company could raise as much as $158 million by selling shares to the public.

The Montana company will pay $135 million for a bank with 10 branches in seven Arizona markets.

A second activist investor is pushing the company's board to find a buyer.

There is no way to know exactly what the market will look like in 2023 or 2024 when FedNow debuts. First State Bank of St. Charles is working on a solution that can help its customers right away, says Luanne Cundiff, the Missouri bank's president and CEO.

The GSEs will hold onto a combined $45 billion as they start the process of going private; PayPal becomes the first foreign firm to win approval to enter the country’s payments market.

The information you need to start your day, from PaymentsSource and around the web. Today: Instagram extends shopping technology; Amazon Go considers movie theaters; J-Coin adds retailers; France releases e-invoice rule; Drive through worker snaps debit card pics.

Adoption of money management instruments offered by banks remains low. One expert explains why.