Banking

The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart expands robot program; Regulators say banks aren't moving fast enough on PSD2; Bitstamp gets New York license; New iPHone attack; Financeit appoints execs for U.S. expansion.

The company warned that the move will likely reduce its first-quarter profit by $8 million.

With an implementation deadline less than a year away, bankers will be pressed to detail how a new accounting rule for loan losses will affect reserves, earnings and capital.

The regulatory relief bill passed last year eliminated mandatory stress tests for dozens of regional and midsize banks, yet many banks continue running internal tests anyway. Here’s why.

Gateway Mortgage Group’s dream of being a national, diversified financial services player will hinge on its effort to turn a community bank into an online-only platform.

Sloane, who died on Saturday, refused to bulk up on commercial real estate loans, a move that helped him survive two severe economic downturns.

Clayton is the latest to raise concerns about bank loans to highly indebted companies; Wells Fargo’s performance took a hit with its reputation.

The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm adds staff for offline initiative; Standard Chartered opens an innovation hub in Kenya; Santander bolsters payment security; PhonePe chases fanstasy cricket payments.

Jill Castilla, CEO of Citizens Bank of Edmond, has taken steps to help her bank stand out from the crowd.

Regulation is effectively priming the virtual currencies ecosystem for banks to engage by increasing transparency, reducing some of the associated risk, and lowering the barriers to entry. All of this will make it easier for banks to establish a role and to design new payment products, writes Elina Mattila, executive director at Mobey Forum.

The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card.

The moves are part of an ongoing effort by the Seattle bank to largely exit mortgage lending.

The congressional hearing will be ripe with opportunities for lawmakers to raise flags on issues of diversity, deregulation and social policy.

The companies had planned to make Chemical CEO David Provost the new leader before October's market gyrations led them to break off talks. When they revisited the deal, several things changed — including Provost's role.

On Dec. 31, 2018. Dollars in thousands.

The Tennessee company has set up a $3.5 million reserve associated with the unnamed borrower.

CEOs at Bank of Montreal and TD Bank Group say they are unlikely to touch the American cannabis industry until the laws change.

The bank’s biggest shareholder says Wall Street shouldn't yield its next CEO; concern that mistakes that led to the financial crisis are being repeated.

The information you need to start your day, from PaymentsSource and around the Web. Today: Attackers hit DNS servers at financial companies; Shareholder sues over Fiserv's deal to buy First Data; New sandbox; Digital ID advances in the Philippines; Russia's gas company turns to DLT.

In a unique deal, organizers of Village Financial Cooperative received $500,000 from the Minneapolis City Council as they aim for a June opening.