Banking

The bank will reduce its footprint to its German roots; U.S. banks are offering cash bonuses to keep customers from fleeing to higher-yielding accounts.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon faces regulatory pressure in the U.K.; Manchester adds transit tech; Paytm opens hub in Montreal; PSD2 has poor compliance.

These programs are allowed in a majority of states, but only a small portion of credit unions offer them. That may change as the need for deposits grows and consumer expectations shift.

Much as the fintech wave has sparked investments and deal-making among legacy bank technology vendors and payment processors, Experian, TransUnion and Equifax are entering partnerships and making investments.

Questioning whether core-banking technology is nearing a 'big shake-up'; Capital One keeps closing branches, even as rivals open them; FASB chair defends CECL, saying 'the benefits justify the cost'; and more from this week's most-read stories.

The information you need to start your day, from PaymentsSource and around the Web. Today: Uber Eats expands inside restaurants; Alipay adds beauty filters to selfie-pay; Japan's regulators pressure Libra; Legal battle brews over currency policy in Zimbabwe; BigCommerce and Klarna expand partnership.

Readers react to Congress vetting Facebook's Libra, heavily debate whether to delay CECL, opine on attempts to roll back overdraft laws and more.

Credit unions can reduce concentration risk and free up funding for new loans though participations but many institutions are hesitant about the process.

The president says he’ll nominate Judy Shelton, Christopher Waller for Fed; the bank reportedly in talks to sell parts of its “once prized” equities business.

The information you need to start your day, from PaymentsSource and around the Web. Today: QR codes for education payments; Tencent and Paytm mull investment in streaming service; Dutch ministers call for cash removal; Retailers lobby against Amazon and Google; FIS adds job board tech.

Only one CU in West Virginia wants to enter the pot banking space, but they're going against the grain not just of the state's credit union league but an industry where fewer than 1% of institutions are serving that market.

Gregory St. Angelo was part of a loan and tax credits scheme with other senior executives that funneled him more than $50 million, federal prosecutors said.

New York Attorney General Letitia James said there is “no basis to believe” that the overdraft rule has harmed small banks and credits unions.

As policymakers mull ways to update the 42-year-old Community Reinvestment Act, economists at the San Francisco Fed have put forth a novel proposal.

Alexander Lopatine, who founded Nymbus and has joined Mbanq, says alternative providers are gaining the confidence of more banks. However, questions remain about their staying power in the fight with traditional vendors.

Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.

Theresa LaPlaca, one of four new directors at the company, ran an office Wells formed to address issues tied to its sales and reporting practices.

Breaking from its playbook as a conservative lender, Provident Financial in New Jersey is working with a fintech to offer unsecured loans online.

The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.

The $60 million acquisition will allow ACNB, which is based in Pennsylvania, to enter a new market.