Banking

The credit union service organization has added 20 new owners this year and has reached its maximum number of shareholders.

Bret Weekses, CEO of eDoc Innovations, will take the helm at the Utah-based CUSO next month.

From branch networks to technology and cybersecurity concerns, there's plenty to keep leaders of CDFIs and small CUs awake at night.

The Florida bank set aside much less money to cover soured medallion loans in the third quarter, and total loans rose more than 7%.

Bank Independent in Alabama is the latest small bank to start using Alexa, though implementation costs and security concerns continue to hold others back.

The change comes two months after the bank was spun off from its Venezuelan parent company.

Cash Express LLC allegedly sent customers threats of legal action even though the time for taking legal action had expired.

For hackers, ATMs serve as “welcome mats” for company networks where much customer information is stored, writes Eric Crabtree, vice president and global head of financial services for Unisys.

Orrstown will pay $59 million in cash and stock to gain seven branches and $409 million in deposits.

Strong growth in the bank's core business of multifamily lending was offset by higher rates it paid on CDs and borrowed funds.

The results did not include the company's purchase of CoBiz, which closed last month.

Organizers plan to raise $25 million to $35 million in initial capital to focus on small and midsize businesses in northern Virginia.

The 25-year JPM veteran will pursue an opportunity elsewhere; private equity firms have a record $57 billion to loan for real estate.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go picks a spot in Wesfield Place; HTC reveals its blockchain phone; IBM sets up open banking service; Citi invests in Ondot.

The pressure is on for banks to lean more heavily on capital markets, wealth management and other nonmortgage sources of fee income. That could get tougher in upcoming quarters.

A smaller provision for loan losses helped counteract declining loan volume and higher expenses during the third quarter.

A detailed breakdown released by the agency shows residents in California, Florida and Texas having submitted the most complaints about a financial institution, but D.C. had the most per-capita complaints.

Goldman Sachs’ Heidi Cruz takes some flak for comments she made in an interview about her other job — as the wife of U.S. Sen. Ted Cruz. Goldman's Dina Powell turns down a chance to be the next Nikki Haley. And a lawsuit against the American Bankers Association calls it a “boy’s club.”

Zelle processed 116 million transactions during the third quarter as its payment volume jumped to $32 billion, while Venmo's volume increased 78% to nearly $17 billion.

A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.