Banking

Both banks focus on the Chinese-American community.

Prosecutors are investigating the involvement of Ashton Ryan and another executive in the New Orleans bank's 2017 collapse, a federal judge recently wrote in a decision on a related matter.

Treasury Secretary Steven Mnuchin has told large U.S. financial institutions including Goldman Sachs and American Express they should do more to help black- and women-owned community banks win federal contracts.

The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.

Driver Management said it believes the company would create more shareholder value by finding a buyer.

While Gen Z is just beginning to transition into adulthood there are some healthy indicators of how it is approaching credit as well as how it manages debt.

There's been a significant lag in how financial institutions serve commercial clients with mobile technology, and that creates an opportunity for credit unions.

The Baltimore company will pay $31 million for MB Bancorp.

The mortgage agencies would be privatized under Trump administration plan; central bank will probably cut rates by 25 bps, not 50 bps, at its next meeting.

The information you need to start your day, from PaymentsSource and around the Web. Today: Is Apple crypto in the works?; New iPhones may have fingerprint readers; Grab invests in AI; Upflow draws funding for invoice tech; Venice's vaporettos support contactless pay.

The NCUA said credit unions can now serve hemp businesses but uncertainty remains around important issues like due diligence.

Readers strongly react to whether the CFPB should have a say on bank mergers and if tribal areas should have special CRA credit, debate whether banks are embracing enough technology and more.

Enova has used AI in credit decisions for years. Now it’s having AI do the work of document verification, know-your-customer checks and more.

Falling stock prices and concerns about the health of the economy are depressing deal activity.

Higher net interest income and securities gains boosted quarterly profit to $62.6 billion, which was 4% higher from a year earlier. But potential trouble signs from lower interest rates may emerge.

With brick-and-mortar locations dwindling, it’s even more important to meet potential customers in the field.

About 15% of the bank’s partners are likely to leave this year to make room for new ones; the bank said it is looking into why it charges some customers even after their accounts are closed.

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard joins a blockchain project; Alibaba preps an e-commerce acquisition; Jack Dorsey has no plans for his own crypto; Apple Pay adds Southwest support.

The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.

Despite the growth of digital advice, there's resistance to the business inside banks because of internal politics and a lack of data sharing, the company's CEO says.