Banking

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

The Arkansas company will pay $434 million for Landrum Co., which also has branches in Oklahoma and Texas.

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa's small business play in India; Mobile point of sale tech for legal weed; Circle's CEO pushes financial reform; Revolut adds a top exec.

The Boulder, Colo.-based institution will now serve a dozen counties in its home state.

The Fed's involvement will inject competition into the market and offer merchants choice as they weigh their payments acceptance options, argues John Drechny, CEO of the Merchant Advisory Group.

Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.

The Louisiana company will pay $15 million in cash for Bank of York.

Building off the popularity of its personal financial management tool, HelloWallet, the Cleveland bank is now offering in-person financial checkups as a way to deepen customer relationships.

The Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.

Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change.

To combat the notion that regional banks’ tech offerings are inferior, the combined BB&T-SunTrust will have to go “toe-to-toe” with big banks, BB&T chief Kelly King said ahead of shareholder approval of the deal Tuesday.

A new study from WalletHub ranked each state according to the credit card debt consumers have racked up.

Credit unions will be covering a range of important issues, including community development and enterprise risk management, as they review their operations.

In what's being called "one of the largest-ever data breaches of a large bank," Capital One said a Seattle hacker gained access to the personal information of more than 100 million customers; Citigroup plans to cut hundreds of jobs in its global markets division and combine its equity trading and prime brokerage units.

The information you need to start your day, from PaymentsSource and around the Web. Today: BofA ends First Data joint venture; Capital One and Sephora suffer breaches; Grab uses infusion to expand in Indonesia; Ripple wants to be seen as different than Libra; A ransomware emergency in Louisiana; Amazon expands into food delivery in India.

Credit quality is being second-guessed after several banks reported higher 2Q charge-offs.

Capital One Financial lost data from as many as tens of millions of credit card applications after a Seattle woman hacked into a cloud-computing company server, federal prosecutors in Seattle said.

The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.

The Senate is also expected to pass a budget deal that will increase spending and suspend the debt ceiling.