Banking

AI can ease shortfalls in legacy processing and risk systems, contends Deep Labs' Michael Lynch

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

If signed into law, institutions that qualify for the Banking Development District program will be eligible to receive up to $10 million in subsidized public funds.

At the recent Digital Banking conference, a pair of credit union executives offered insights into how the shift toward digital services has impacted their branching strategy and vice versa.

The deal with Frandsen Financial is the 12th bank M&A transaction this year involving a seller in Wisconsin.

Seed, a San Francisco startup, has developed a platform that lets small businesses quickly open accounts online. That's an important feature for Cross River as it courts more fintech clients.

Companies that offer early access to earned wages want a regulatory framework for their fast-growing industry. But the bill under consideration in Sacramento is exposing big divisions in the sector.

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

On Mar. 31, 2019. Dollars in thousands.

Shore Community Bank, which has five branches in Ocean County, will sell for $53 million.

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

In a hyper-competitive job market, credit unions are finding creative ways to keep staff engaged and sweeten the deal for potential new hires.

Independent Bank in Texas, the seller, gained the business after buying Guaranty Bancorp.

Former Barclays CEO John Varley was accused of trying to obtain funds to avoid a government bailout; borrowing to pay for weddings surged last year.

The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart's theft sensors; European regulators show some flexibility on authentication rules; Google and PayPal extend partnership; Desjardins suffers a breach.

On Dec. 31, 2018. Dollars in thousands.

The National Credit Union Administration is considering increasing the threshold for nonmember deposits but bankers have vowed to fight back, including possibly suing the regulator.

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations are in store.

Mary Hughes, acting director of finance at the Idaho Department of Finance, will receive the trade group's annual award during its 2019 State Summit.

Google explored the OCC's fintech charter, then walked away; the biggest changes in digital banking could be just ahead; 'Truist' rebrand prompts lawsuit by N.C. credit union; and more from this week's most-read stories.