Banking

Were the Fed to develop its own payments platform, it would be expensive, duplicative, inefficient, and curtail development of real-time services, argues the National Taxpayers Union's Thomas Aiello.

People’s United offered 30% more in the summer of 2018 for United Financial than it agreed to pay in a deal announced last month. What followed the initial talks is a textbook lesson in the impact of indecision and the unexpected in bank M&A.

The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans.

The 2020 election is shaping up to be a key yardstick for legislation expanding cannabis firms’ financial services access.

Black and Hispanic owners of one-person businesses are more likely to be discouraged from applying for financing, and they’re less likely to receive financing when they do apply for it, than their white counterparts, according to a new report from the New York Fed.

The lawsuit claims that the board didn't properly supervisor management, which allowed former CEO Edward Rostohar to embezzle more than $40 million.

The Massachusetts Democrat is questioning a claim by the agency about the amount of redress available to those affected by the credit bureau's 2017 data breach.

Indiana Members Credit Union will pay cash for Commerce Bank.

Regulatory sandboxes can create a lot of opportunity for the winners but inadvertently put losers at a competitive disadvantage.

Offering 3% on purchases through its App Store, Apple hopes to make its competitors' phones a less-appealing option; a call for speeding up FedNow.

The information you need to start your day, from PaymentsSource and around the Web. Today: Contactless at the university; LinkedIn co-founder helps launch smart contracts for subscriptions; Alipay and WeChat Pay's processor draws funds; Coincorner pays its staff in crypto; Domino's tries e-bike delivery.

The Iowa company will pay QCR Holdings about $59 million for Rockland Bank and Trust.

Changing consumer attitudes about these companies and the emergence of open banking have made them appealing to venture investors, whose commitments rose 15% in the first half of the year.

Keeping up with changing technology can be difficult but institutions are making investments in ITMs, new lending platforms and more.

The regulator of the government-sponsored enterprises retreated from an earlier proposal that had barred VantageScore because of its ties to the credit bureaus.

Acquiring the Nebraska bank would give CIT Group access to billions of low-cost deposits to fuel a go-it-alone growth plan. CEO Ellen Alemany says it could also make her company "more valuable" to potential buyers if it ever wants to sell.

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

The San Francisco-based fintech is using JPMorgan Chase’s real-time payments service to power the new overdraft prevention tool.

The technology can help banks get the most out of the vast amounts of information at their disposal.