Banking

Gottfried Leibbrandt will step down next June from Swift, the cross-border payment system, after spending seven years leading a key piece of global economic infrastructure through crises from hacking to sanctions on Iranian banks.

The $180 million acquisition is the first for Berkshire since the sudden departure of CEO Michael Daly.

A CFPB report says the bank is the most expensive bank for college students; lenders would be banned from mailing high-interest loans disguised as checks.

The information you need to start your day, from PaymentsSource and around the Web: EU tackles cybersecurity, finger vein payments expand, Barclays adds payment controls, and more.

The credit union stalwart purchased Mirador, which is heavily dependent on bank relationships. The challenge now is keeping those clients in the fold.

The $25.5 billion-asset company has also restructured its securities portfolio as part of a broader effort to reduce costs and improve profits.

The newly sworn-in director’s first public remarks seemed to contrast with the approach of her predecessor, Mick Mulvaney, who at times questioned the role of the agency.

A number of credit unions have been hit with lawsuits that claim they have charged members overdraft fees despite there being sufficient funds in checking accounts.

CUNA Mutual, a service provider to credit unions, recently bought Mirador, which is heavily dependent on bank relationships. The challenge now is keeping those clients in the fold.

The Financial Accounting Standards Board is requiring all companies to record leases for property and equipment on their balance sheets. Here’s how that revision could affect banks’ loan decisions — and their own capital ratios.

Balances from the 52 branches Flagstar bought from Wells Fargo fell by 22% between the deal's announcement and closing, forcing the Michigan company to adjust the math for earning back tangible book value.

The idea that deposit brokers are trying to game the deposit insurance system and could contribute to another crisis is outdated.

Nadine Murray, who had worked for JPMorgan Chase's consumer bank, will guide strategy for Even Financial. It creates APIs that are meant to make its services the digital version of branches and agents.

Associated will gain low-cost deposits and branches in 13 new markets after the deal closes.

Expected weaker fundamentals, stock buybacks and higher interest rates all to blame; firms are downsizing as bitcoin prices crash.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go finds a spot in the U.K.; PayPal offers blockchain incentives to staff; Apple Pay's set for Germany; JD.com and Intel plan an innovation lab.

Jason Brown explains why his company, Tally, helps consumers by paying their monthly balances, providing advice and offering a lower-rate credit line.

Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in consumer decisions — and things that banks could keep in mind in their efforts to recruit or retain customers.

Wells Fargo charges students nearly four times as much in fees as banks without college marketing agreements, according to an internal report by the Consumer Financial Protection Bureau.