Banking

OCBC Bank in Singapore has seen a 35% reduction in false positives in its tests of artificial intelligence-based anti-money-laundering software. Other banks could follow its lead, though there are regulatory and customer-protection questions.

Ant Financial’s consumer lending has reached at least 600 billion yuan ($95 billion) despite the affiliate of Alibaba Group Holding Ltd. facing a tougher environment for securitizing its loans, people familiar with the matter said.

California officials had accused Advance America of wrongly assessing Department of Motor Vehicles fees on its payday loans to skirt the state's interest rate cap.

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.

The League of Southeastern Credit Unions is working with legislators in both states to find ways to protect consumers from predatory lenders.

As it gives its small-dollar lending regulation another look, the agency must consider borrowers who have no other credit options.

The company has agreed to buy United Community Bancorp. With the $114 million deal it would add five branches in the Cincinnati area.

Bankers should be careful in their push to deregulate, as efforts to roll back some crisis-era rules will likely add new risks to the financial system.

Franklin Synergy and MidFirst both plan to deploy the online lending platform, which according to its creator can render loan decisions in just under three minutes.

Remote deposit capture fraud remains a threat, but analysts say that's just the tip of the iceberg. Here's how credit unions can better protect themselves -- and their members.

Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.

Many of the companies in our inaugural Best Fintechs to Work For ranking share a willingness — even an eagerness — to involve rank-and-file staff in decisions about how the company is run.

The information you need to start your day, from PaymentsSource and around the Web: Google Pay's next steps, Applebee's breach, digitized rent payments and more.

In a 26-year career at Discover Financial Services, it would seem that Amy Parsons has earned the title of a "doctor" of payments.

The legislature has passed a bill that would allow lenders to make installment loans that, in many cases, would be more costly than payment loans. If Gov. Rick Scott signs it, Florida would become the first state to pass a law designed to blunt the impact of the CFPB’s crackdown on high-cost consumer loans.

KS Bancorp disclosed in a legal filing that an takeover effort by First Citizens is spooking lenders and prompting prospects to delay and cancel plans to move deposits and lending relationships.

The mutual has agreed to buy Cape Ann Insurance, which specializes in personal insurance products.

The tech giant is reportedly in talks with JP Morgan Chase and Capital One about creating a checking account product, and two analysts say that could create major challenges for credit unions.

Limited organic growth opportunities and rising premiums for bigger deals are fueling more sales of banks with $1 billion to $10 billion in assets.

U.S. banks are sitting on a $1.03 trillion mountain of credit card loans. More borrowers are starting to default. Yet lenders know they can't sell souring debt to just any collector.