Banking

Goldman Sachs Group Inc., owner of one of Wall Street’s top dealmaking franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading.

The information you need to start your day, from PaymentsSource and around the Web. Today: Fiserv buys First Data; PayPal scores a ticketing contract; Open banking advances in Canada; Russian bank adopts finger payments; Faster payment group adds staff.

The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.

Ten weeks remain until Great Britain is set to leave the European Union, but the chaos of the entire Brexit process brought much of the British credit union industry's regulatory priorities to a halt.

Retail banking loans rose 5% at Bank of America, which also reported a 3% increase in consumer deposits and a 12% leap in net interest income in consumer banking.

Credit unions and smaller banks can differentiate themselves by returning to the passion for personal service that first anchored their success, and payments are central to this strategy, according to Deborah Matthews Phillips, managing director of payment strategy at Jack Henry.

Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.

The Tennessee company will have $4 billion in assets and 47 branches in six states when it buys Entegra Financial.

Loans grew 6% at JPMorgan Chase, but the bank is "not going to be stupid" and assume that will last forever, its CEO says. Here are some precautionary steps it's taking.

CUNA and NAFCU both issued letters to the National Credit Union Administration suggesting ways federal credit union bylaws could be amended.

Emily Vaughan Alexanderson will lead a group focused on education, nonprofit, technology and life sciences clients.

The Georgia company will abstain from acquisitions this year as it looks to make internal improvements.

The deal for Citizens State Bank is part of VyStar's plan to expand throughout Florida and Georgia.

Its mobile banking app comes with bank accounts, merchant accounts, and instant credit on invoices. Behind it is a network of community banks that will gather the deposits the app brings in.

A recent proposal to allow the government-sponsored enterprise to offer more credit in agricultural regions is deeply flawed.

The San Francisco company's quarterly earnings also reflected higher wealth management revenue.

The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow.

There are many contenders working towards developing a universal digital ID system. CULedger will test its offering later this week with a rollout scheduled for the second half of 2019.

The information you need to start your day, from PaymentsSource and around the Web. Today: U.K. forms new financial crime unit; Salesforce adds AI; UnionPay opens to developers; Fiserv lures sports pay network.