Banking

A year after trying to save faltering payday lender Wonga, Balderton Capital is investing in the other side of the model by leading a $19 million Series A funding round in Wagestream, a U.K. startup that provides flexible payroll technology to avoid payday loans.

Banesco USA agreed to buy Brickell more than a year after Banco Espirito tried to sell the Miami bank to a Swiss financier.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

Two economists speaking during CU Direct's recent Drive conference in Las Vegas offered predictions on how a variety of economic factors could impact credit union auto lending portfolios in the not-too-distant future.

Blue Ridge Bankshares will be based in Charlottesville, Va., after completing its $43 million purchase of Virginia Community Bancshares.

Year to date Dec. 31, 2018. Dollars in thousands.

On Dec. 31, 2018. Dollars in thousands.

The credit union regulator’s proposal to raise the appraisal threshold for nonresidential real estate loans won’t harm the economy or consumers, contrary to critics’ claims.

On Dec. 31, 2018. Dollars in thousands.

The Federal Reserve is considering revising Regulation D, which limits consumers to six transfers per month on savings and money market accounts through certain methods.

Banks are starting to lower their rates to savers, due to easier Fed policy and lower expected profits; Commercial lenders see big rise in non-performing loans.

The information you need to start your day, from PaymentsSource and around the Web. Today: Google tests drone delivery; Spend launches a digital wallet; Minna attracts investors; Tokyo recruits fintechs.

The Illinois bank is buying a bank formed in the 1970s to serve Cuban-Americans.

Vernon Hill's U.K. bank sold $479 million of new stock and issued fresh details about its turnaround efforts. Those included plans to cease its controversial practice of purchasing design and branding services from a business owned by Hill's wife.

Undeterred by setbacks in other cities, a broad coalition of community groups is seizing on popular mistrust of traditional banks to press the case for a city-owned bank.

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

Pangea says it is developing a digital account after customers complained that the bank relationship they had wasn't "for them."

As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories.

The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.

A new study from CUNA Mutual Group shows CUs ended March with tepid growth in membership and auto and real estate loans compared with a year earlier.