Banking

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.

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.