Banking

The St. Joseph, Mich.-based institution faced claims that it didn't properly opt members in to its overdraft program.

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon extends robot delivery; HSBC adds more currency to commercial card; Ireland makes PSD2 concessions; Ripple's looking for investments.

Large banks are going from more rural areas to expand in cities like Pittsburgh. Credit unions in the affected markets will have to adapt to survive.

President Trump is expected to sign legislation soon that would expand the number of farmers who could file under the more lenient Chapter 12. Ag lenders are worried because farm bankruptcies recently rose and the trade war with China could worsen.

The Michigan company disclosed that an unnamed client made a large payment on a $6.5 million nonperforming loan.

Anticipating recession, banks start scrubbing loan books; how Trump's political appointees thwarted tougher settlements with two big banks; the Fed's plans on its real-time payment service; and more from this week's most-read stories.

The New Jersey company was reportedly shopping itself around last fall. Fresh off an agreement to buy Gold Coast Bancorp in New York, CEO Kevin Cummings says he is ready to explore other acquisitions.

Lightico is focusing on how users engage with institutions on a mobile device, something the company believes is a shortcoming among card issuers.

Ancora Advisors also suggested that the company get rid of its current management team.

Most ATM update projects fail for a variety of reasons, such as the amount of time and effort required was simply underestimated, competing priorities get in the way, a lack of resources, a reliance on manual testing processes and procedures, according to Paragon Application Systems' Steve Gilde.

The bank will buy First State Bank of Mobeetie.

The New Jersey company will pay $284 million for Two River Bancorp and Country Bank Holding.

The company will pay $13 million for the parent of Western Bank of Wolf Point.

Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options.

The rate on a 30-year fixed-rate mortgage dropped to 3.6%, a three-year low; Mary C. Erdoes, a top bank executive, allegedly pushed back against compliance department suggestions to jettison the controversial client.

The information you need to start your day, from PaymentsSource and around the Web. Today: Commerz pilots M2M; Postmates deploys robots; Libra encourages new technology; State Farm suffers a breach; Rhode Island issues crypto regulations.

There are opportunities to make loans for strip malls and regional distribution centers but executives need to put the right risk management in place.

Know Your Customer and open banking create tough barriers for 'near real-time' account opening, says Entersekt's Jennifer Singh.

Readers react to the Fed's lengthy plan for a real-time payments system and Fifth Third's minimum wage increase, jab at Sen. Warren's absence on the Senate Banking Committee and more.