Banking

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.

As part of the modernization of the U.K.’s payments systems, the new Image Clearing System is now being phased in. All banks and building societies across the U.K. are connecting their deposit channels into the central infrastructure, a process that will be completed by the end of 2018.

Judges say a CashCall loan may have fit the state’s definition of an “unconscionable” interest rate.

BayCom in Walnut Creek, Calif., would have a bigger presence in the Albuquerque area after buying Bethlehem Financial.

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

Guaranty Bancorp could have had a different owner if not for a suitor’s ill-timed stock hiccup that gave a rival the upper hand.

On Mar. 31, 2018. Dollars in thousands.

Northern Credit Union in New York has shed its federal charter, while Gale CU in Illinois has converted to a community charter.

On Mar. 31, 2018. Dollars in thousands.

On Mar. 31, 2018. Dollars in thousands.

The transaction was set up to give Mercantil more autonomy to expand in South Florida, Houston and New York.