Banking

A $1 billion penalty being bandied about; Deutsche’s problems may be too big to eradicate.

The information you need to start your day, from PaymentsSource and around the Web. Today: Apple Pay gets a boost from Ripple; HSBC uses AI to fight money laundering; Banco Santander recruits payments vets; Tech help desk fraud.

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence."

With the three deals, Triumph is beefing up in Colorado, expanding into New Mexico and strengthening its asset-based lending unit.

The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures.

Loosening lending standards can actually increase the odds that banks get sued for discrimination.

Gill, who spent 14 years at Goldman, will fill a role that has been vacant since last summer at SoFi.

Four banks have agreed to be sold to credit unions this year. Expect more deals between the longtime nemeses because the smallest banks are of less interest to other banks than they used to be, and some credit unions are in growth mode.

Retail banking chief Christian Sewing will become CEO immediately; higher deposit rates could trim lending margins as banks head into earnings season.

The information you need to start your day, from PaymentsSource and around the Web. Today: Starbucks, Samsung team on voice ordering; Spain cracks down on cryptocurrency; Walmart bolsters online order pickup; SEC freezes Longfin's crypto trades; UFO coin.

While industry consolidation picked up in 2017, certain regions did better than others, with strong volume and improved pricing. Here’s a look at each region.

The subprime auto lender failed to disclose that it received fees for referring borrowers to CarMax, the used-car dealer, according to California's financial regulator.

The St. Louis-based company partnered with 38 new credit unions last fiscal year.

As lawmakers consider reforms to the Dodd-Frank Act, fresh data shows a dramatic reduction in new items issued by the regulatory agencies.

The heads of Mastercard and Santander outlined the concrete steps their firms are taking to bring unbanked consumers into the financial system.

BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.

Struggling to find quality loans in the grueling Philadelphia market, Beneficial Bank is looking to accelerate growth by building a nationwide leasing firm from the ground up.

Small financial institutions are eager to see the Senate’s reform bill signed into law, but House efforts to amend the legislation risk stalling the effort.