Banking

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

The workers charged customers incorrect currency conversion rates; Santander plans to defend its decision not to hire Andrea Orcel if he sues.

The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal complies with India's data storage rules; Uber tests new subscription service; Union Bank of the Philippines tests blockchain payments; Bitcoin Hyper launches.

Accounts that offer high interest rates can bolster fee income and lower noninterest expenses, though credit unions have to carefully watch these products to ensure they actually make money.

WesBanco, which is based in West Virginia, will have more than $15 billion in assets when it completes the acquisition.

The Maryland bank has to show that it can once again overcome accusations of possible misdeeds — this time tied to a political corruption probe. And there may be other problems.

While loan growth continues to outpace competitors, Discover says it has been tightening its standards, given the late stage of the credit cycle.

KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates.

Despite the Senate Banking Committee’s willingness to discuss the issue, Republican support for legislation is still in question.

Rachel Pross, chief risk officer at Maps Credit Union, told the Senate Banking Committee the inability for more banks and CUs to safely serve the legal pot industry is having an effect on ancillary businesses.

The Mississippi company has agreed to buy First Florida Bancorp in Destin, Fla., as part of its plan to build a community bank stretching across the Gulf region.

There have now been a record 10 credit union-bank merger deals in 2019.

The lawsuit claims that the Jacksonville, Fla.-based credit union charged members multiple non-sufficient-funds fees on the same item.

New regs force financial institutions to go deeper to stop laundering, but the prize is easier overall enrollment, says NTT Data Services' Edmund Tribue.

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services.

Policymakers should consider how new data computing can help ensure equal lending, not hinder it.

Bank posts its best second quarter since 2010 after a disappointing Q1; Cerberus in talks to buy loans at the center of a major accounting error.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa invests in India fintech; Bank technology for merchants; Crypto crime jumps in South Korea; Circle gets a crypt license in Bermuda.

Kindur and Finhabits are trying to create retirement plans for people who lack them. Are banks missing an opportunity?

Several megabanks dominate the market, but First Choice is seeking to expand there by catering to its ready supply of midsize businesses. It's not the only one.