Banking

Slumping stock prices may force banks to press pause, but the need for low-cost deposits and scale could provide a spark later this year.

An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.

Stephen Raffaele has been the bank's president since 2016.

An “emergency merger” with troubled Progressive Credit Union gives PenFed – already the nation’s third-largest credit union – the ability to welcome any potential member nationwide.

The information you need to start your day, from PaymentsSource and around the Web. Today: Chase is recuriting a blockchain leader; Elavon gets nod from U.K.'s Faster Payments scheme; Abine suffers a breach; Self-driving car deliveries advance in San Francisco.

The accounts — which eschew paper checks and overdraft protection — appeal beyond the low-income customers they were intended for; lenders are embracing artificial intelligence systems to analyze more data to determine creditworthiness.

Readers respond to Wells Fargo's latest fine, weigh Sen. Elizabeth Warren's potential bid for president, consider how banks are preparing for climate change and more.

LendStreet is looking to break the circle of debt that often arises when struggling borrowers try to consolidate what they owe.

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.

The Pennsylvania company has agreed to buy Forney Financial Solutions.

The agencies are weighing a plan to reduce the scope of residential real estate transactions requiring an appraisal, but appraisers have warned that the proposal could have consequences.

Leveraging the trust relationship the bank already enjoys with its customers, based on robust security, engagements can go beyond run-of-the-mill transactions, writes Sherif Samy, senior vice president of North America at Entersekt.

Bob Mahoney, CEO of Belmont Savings, called Jack Barnes after People's United agreed to buy a Connecticut bank. The banks announced their own merger agreement five months later.

The advent of self-service apps has reduced the frequency of customer-employee interactions at banks, but that just makes face-to-face time all the more valuable.

By adopting faster payments, businesses have more flexibility to make last-minute payments and emergency payrolls, or gain a larger window for early-payment discounts.

Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.

Despite strong performance in the industry overall, analysts expect regulators to shutter more institutions in the years ahead.

The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm's out of India's regulatory spotlight; Mary Meeker's new investment firm gets a brand; Prepaid trade group changes its name; Bitcoin processor turns down investment.

Bank portfolios are chock full of loans to industries — think agriculture, tourism, real estate and energy — that could be particularly hard hit by warming temperatures. Some large banks are engaging in "scenario analysis" to mitigate the risk.

Banks need to stake out a presence on platforms that have nothing to do with banking.