Banking

With millions of consumers switching their primary financial institution annually, many credit unions are faced with a quandary: come up with the money for digital offerings or risk losing a growth opportunity.

Banks don't compete with each other enough to effectively lead the move to faster payments in the U.S., argues CMSPI's Mark Horwedel.

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

A Wisconsin credit union's agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

A $19.1 billion aid package signed into law earlier this month is welcome news for credit unions in Nebraska and a host of other regions that have suffered from recent natural disasters.

Kashuba, who heads design and innovation at Fifth Third Bank, says looks matter even to the common credit card.

Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

The information you need to start your day, from PaymentsSource and around the Web. Today: Facebook's cryptocurrency gets more detail; Lloyds adds to open banking; Domino's tests driverless cars; Euro messaging moves forward; Billing tech draws investors.

On Dec. 31, 2018. Dollars in thousands.

The Dutch company is no longer a bank in some countries, but more of a digital matchmaker between consumers and financial products provided by third parties, explains innovation chief Benoit LeGrand.

New York's sweeping rewrite of rent stabilization laws could pose a credit risk to lenders that finance capital improvements to regulated apartment properties, according to a report Monday by Fitch Ratings.

Deal values this year have been smaller than last year despite the hubbub over BB&T-SunTrust. Prosperity's agreement to buy LegacyTexas raises the possibility that the size of bank deals could start climbing.

The new regulation mandated by Congress expands eligibility for a simplified reporting form to financial institutions with $5 billion of assets.

The German banking giant is also looking to create a "bad bank" to wind down as much as $56 billion in unwanted assets, according to a person familiar with the matter.

HSBC is opening 50 new retail branches in the U.S. and hiring more than 300 staff as part of the British lender's plan to expand services to regions where it has previously been absent.

On Mar. 31, 2019. Dollars in thousands.

On Mar. 31, 2019. Dollars in thousands.