Banking

Former Managing Director Timothy Fletcher banished for role in referral hiring; Apple-Goldman collaboration shows banks fear missing out.

The information you need to start your day, from PaymentsSource and around the Web. Today: BMW and Daimler's mobile plans move ahead; Uber Eats sells Indian unit to Swiggy; Sberbank pushes P2P; Mastercard makes a clearing deal in China.

Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.

Three years ago, the New York-based fintech started organizing a monthly gathering for its female employees. The meetings have helped participants find role models.

Fifth Third is helping consumers — and millennials in particular — save for big-ticket purchases with a new tool that squirrels away small sums into an account that can’t be immediately accessed.

Will Howle, head of U.S. retail and mortgage banking, and Alice Milligan, chief digital experience officer, will leave this spring.

ComplyAdvantage, Cinnamon and Zoovu recently raised millions of dollars to fuel expansion of their automated risk management, data-scanning and customer service products geared toward financial services companies.

Governor JB Pritzker has nominated Deborah Hagan as secretary of the state's Department of Financial and Professional Regulation, where her duties would include overseeing state-chartered CUs.

Richard Marotta, who became Berkshire Hills' CEO after his predecessor's abrupt resignation, says his top priorities are squeezing more profit from existing operations and improving corporate culture.

The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.

The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.

Royal Bank of Canada reported a 5% increase in quarterly profits, but a sharp increase in its loan-loss provision is raising concerns about credit quality.

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal.

The Indiana company will pay $68 million for Citizens First.

The information you need to start your day, from PaymentsSource and around the Web. Today: Apple partners with Alipay to boost iPhone sales; Form jacking attacks expand; P2P expands in Sri Lanka; California considers expanding breach disclosure law.

After six years, a bill from Rep. Ed Perlmutter to allow banks and credit unions to serve legal marijuana businesses is finally getting some traction.

Lloyds is paying small merchants to offer cash back, but consumer groups are already casting the move as inadequate to address the decline of branches and ATMs in the U.K.

Readers weigh legislative proposals on pot banking, consider JPMorgan's new digital coin, debate the Federal Deposit Insurance Corp.'s brokered deposit rules and more.

After six years, Rep. Ed Perlmutter tells American Banker he is finally seeing some traction on his legislation to allow banks to serve legal marijuana businesses.

Personal loan balances hit an all-time high in 2018, while fintech lenders widened their market share lead over banks and credit unions, according to new data from TransUnion.