Banking

Happy Money and Arcus have joined a pack of fintechs and online lenders urging customers to forgo expensive credit card debt, in this case calling it a "sad spend."

The letter from lawmakers to the bureau follows a report that the agency does not view the exams as explicitly required by the law.

But overexpansion, trade wars and escalating wages for drivers could cut the trip short for banks that have aggressively pursued business with large and midsize trucking companies.

With back-to-school season in full swing, credit unions are taking another look at private student loans. Learn about the different ways to get into this business.

The division, created after Sunflower hired lenders away from other banks, will focus on asset-based lending to middle-market companies and investors.

The veteran banking attorney, who also worked at the FDIC and OCC, passed away Tuesday following a battle with cancer.

It's a fickle industry, given the uncertainty over the Affordable Care Act and government reimbursements, but opportunities in lending to medical practices and device manufacturers make it hard to resist, bankers say.

Banks — especially smaller ones — are being told to brace themselves for a wave of ATM raids by cybercrooks. Industry officials are uncertain what information the red alert is based on, but experts say swift, sophisticated thefts are very doable.

The investors initially won the right to sue as a group in 2015 before an appeals court reversed the ruling; the $13 billion lawsuit can now proceed as a class action.

Mark D’Arcy was in charge of regulatory reviews and annual stress tests; many see 10-plus point gains following removal of non-loan collections reports.

The information you need to start your day, from PaymentsSource and around the Web. Today: Alipay and WeChat are available at Mall of America; ATM attackers hit bank in India; Faster payments boosts business automation; Square expands bitcoin support.

Legacy tech vendors have traditionally offered decadelong contracts. But given constant change in the industry, small banks today should push for three-year deals, a bank CEO says.

The number of consumers being pursued by debt-collection agencies fell dramatically in the past year, but it's as much technicality as achievement, and bankers need to keep that in mind when reviewing the credit scores of millions of Americans.

The companies had been unable to secure regulatory approval for the deal, which was announced a year ago.

The card issuer Synchrony will continue to manage three cards for the national hardware chain. The timing is good as Synchrony recently lost a deal issuing cards for Walmart.

Keith Mestrich, who runs the union-founded bank, plans to use a more liquid stock to pursue acquisitions in cities such as Boston, Seattle and Los Angeles.

For NCR and Diebold Nixdorf's leadership, spotting the fintechs nipping at its heels is the easy part. Charting a path as a half-century old market changes into something entirely new will be much harder.

Anand Selva, a longtime Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans, such as former Citi CEO Vikram Pandit.

The information you need to start your day, from PaymentsSource and around the Web. Today: ATMs and IoT are subject to new attack threats; The Bank of England wants input on faster payments; Russian Mir cards pick up another bank.

Concern over Exobot is spreading beyond banking and across other sectors where customers regularly transact online, from e-commerce and retail to health care, writes Don Duncan, security engineer for NuData Security.