Banking

New data from the state shows that payday loans fell to a 12-year low in 2018. But the trend does not necessarily mean that consumers are paying less to borrow.

Fresh data from the Fed, FDIC and Bank of England shows that, directly or indirectly, banks are taking on more leveraged loans. But whether this puts their loan and securities portfolios at risk remains open for debate.

CU Payz has six founding credit union members, including Coastal Credit Union, and will be open to the entire industry.

The South Dakota company discovered "inappropriate user access" to applications at Crestmark Bancorp, which it bought last year.

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

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%.

The information you need to start your day, from PaymentsSource and around the Web. Today: FCA recommends authentication delay; Visa CEO on gun payments; Fraud dips in Australia; Bitcoin tax bill advances; Stripe expands in Latin America.

Lawmakers and others faulted the agency's foot-dragging on approving licenses and funding requests for small-business investment companies, whose owners include banks.

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.

Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates.

Mall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to forestall the industry's collapse: positioning themselves as lenders to tenants struggling to stay afloat.

The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations.

The information you need to start your day, from PaymentsSource and around the Web. Today: Critics pounce on Libra's privacy; Paytm diversifies; Mastercard combats fraudulent fashion; Singapore plans new digital payment regulations.

The industry faces additional risks when members take out auto loans and then list their new vehicles on apps for others to rent.

Consolidation heated up in recent weeks after a tepid start this year. Here is an overview of noteworthy deals announced in June and July.

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

Lenders could struggle to reprice deposits fast enough to offset downward pressure from adjustable-rate loans and refinancing.

Melinda McClure and Richard Horn have joined the management team at Old Dominion Bank in northern Virginia after struggling to raise enough capital for their de novo effort.

The Upstart Network, the first and only startup to participate in the bureau’s program for promising digital platforms, claims that using nontraditional credit data items has helped loan volume and affordability.

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.