Banking

Chime, a financial technology startup that offers online banking services, is close to raising $300 million at a $1.5 billion valuation, according to two people familiar with the matter.

The company will gain four branches in Athens, Ga., with the $52 million acquisition.

Loans for recreational vehicles may yield higher returns than traditional auto loans, but the opportunity could fade if the economy heads into a recession.

Once a moneymaker and executive training spot, the business is no longer cost-effective; Edward Bramson wants a board seat.

The information you need to start your day, from PaymentsSource and around the Web. Today: Google detects password compromise; Isle of Man opens blockchain sandbox; Target extends loyalty program; Crypocurrency discloses technology glitch.

Fintechs and payment startups are creating a range of solutions to SME financing, from crowdlending and invoice-backed factoring to digitalization and formalization of business processes, according to OmniBnk's Andrés Abumohor.

Volume was steady, but deal values would've been the lowest in years if not for one big, and very intriguing, transaction.

Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees.

The U.S. car rental industry has frustrated many young adults for years with special restrictions and credit checks for customers under who try to pay with a debit card. But big data is bringing some relief.

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.

Shareholders in Subchapter S corporations will get some tax relief of their own under a new Treasury Department rule that will let them take a 20% deduction on qualified business income, which includes loan originations and sales.

Young consumers don't have long credit records, but they do make lots of recurring payments that can feed credit risk decisioning, according to Barrett Burns, president and CEO of VantageScore Solutions.

Superior is the latest credit union to announce an acquisition involving a bank.

The company said the move reflects intense competition and a "significant decline" in origination volume.

Senior loan officers also expect decline in loan performance; meeting termed "cordial and collegial."

The information you need to start your day, from PaymentsSource and around the Web. Today: Starling's post-Brexit plan; New York Fed to help Bangladesh Bank find stolen funds; Amazon's biggest deal; New rules for crypto.

Bank of Princeton will also buy $190 million in deposits as part of the deal.

Superior is the latest credit union to announce an acquisition involving a bank.

Consolidation of midsize firms in health care and other industries is expected to heat up in 2019. That’s welcome news to banks that have recently acquired boutique M&A advisory firms.

Bankers weigh their options in mortgage and CRE lending as implementation of a new accounting standard nears.