Banking

Built Technologies will use the money to invest in research and development while it builds out its client base.

Congress has returned from its two-week vacation with plans to debate a number of issues important to the credit union industry.

Many banks rely on the location data they get from carriers through data aggregators to spot fraudulent transactions. With telecom companies shutting that source down, banks are worried it could significantly hurt their capacity to detect fraud.

On Dec. 31, 2018. Dollars in thousands.

On Dec. 31, 2018. Dollars in thousands.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa extends financial inclusion in Pakistan, Africa; India cracks down on crypto; Sinemia closes; Swedbank responds to AML investigations.

The use of digital payments offers significant savings over check cashing. Payroll cards and public-sector prepaid cards issued for the deposit of government benefits are two of the best known examples, writes Andrew Gillen, vice president for Global Public Sector Payment Solutions for Mastercard.

Get ready to meet 15 women — ages 40 and under — whose accomplishments and influence set them apart.

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, "you'd find one outlier, a lady about half the age of most of the others."

How Jamie Dimon's salary ties into the broader discussion about pay inequity; how 5G could change the future of banking; Comerica's first new CEO in 17 years; and more from this week's most-read stories.

Banks from the North and South are converging on the city, spurred by a spike in deposits and employment numbers that trump national averages.

The Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015.

Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter.

The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal invests in Uber; Tencent invests in payments technology in Argentina; Wirex issues stablecoins; Walmart unveils new retail innovation; The PSD2 vendor market gets larger.

The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers.

In a strategy that other CUs could follow, Concord Federal Credit Union is working with a local nonprofit to provide better access to financial products in central Brooklyn.

Readers respond to the debates over economic inequality and CEO pay disparities, weigh in on FDIC board membership, consider LendingClub exiting small-business lending and more.

The company's credit card business has been outpacing industrywide loan growth. In the first quarter, results were also aided by higher loan yields.

The strong growth in commercial lending made up for more modest gains in credit card and auto lending, its two largest business lines.