Banking

PeoplesBancorp in Holyoke, Mass., has agreed to buy First Suffield Financial in Connecticut for $60 million.

Large card issuers began banning cryptocurrency purchases on their cards in February. But fintechs are allowing consumers to purchase and invest in digital currencies, and they say the risk is minimal.

The Minneapolis company plans to expand to new retail markets through a digital platform, but it’s facing questions about how it will distinguish itself from peers.

With an average of 2,600 new members joining each month, the Huntsville, Ala.-based credit union recently earned a Credit Union of the Year honor from NAFCU.

OneUnited in Boston recently issued a debit card supporting immigrants, taking a public stand on a divisive national issue.

Repayments on acquired residential mortgage loans were the main reason, but other bottom-line boosters more than made up for that, the Buffalo, N.Y., bank said in reporting second-quarter results.

The Minnesota company's profits rose by double digits despite some challenges in the second quarter, and its CEO says it will be expanding its digital offerings to simplify banking for customers.

The Financial Stability Oversight Council has proposed dedesignating Zions Bancorp. as a systemically important financial institution under the Dodd-Frank Act.

Considering that cryptocurrencies are designed to circumvent the banking system, banks will need to come up with ways to protect themselves, writes Ely Pinto, chief information security officer at Bank Leumi.

Credit unions in the Silver and Golden states saw strong increases in growth and deposits during the first quarter of 2018.

The Mississippi company said it has recorded most of the expected charge-offs tied to the last severe decline in oil prices.

Goldman’s new CEO is expected to instill more corporate discipline; second quarter earnings jumped nearly 40% compared to a year earlier on higher revenues.

The information you need to start your day, from PaymentsSource and around the Web. Today: Square collaborates with Bank of Queensland; Wirecard pushes wearables; Former JPMorgan payments exec Morgan joins Barclays; Qiwi's blockchain subsidiary will award tokens as staff bonuses.

The New York-based online lender is turning to two European banks to fund loan growth in its overseas markets.

Anchor will be sold to FS Bancorp after agreeing to terminate a deal with Washington Federal. The original deal had been delayed as Washington Federal dealt with BSA issues.

Organizers of Gainey Business Bank, a bank planned in Scottsdale, received approval from the state's banking regulator to raise capital while completing a charter application.

Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded.

Matthew Prosseda, former president and CEO of First Keystone Community Bank, was hired by Kafafian Group to advise banks on strategic planning.

The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond.

The company, which is dealing with a lawsuit from the Federal Trade Commission tied to certain fees, hired Ronnie Momen from GreenSky as its chief lending officer.