Banking

The information you need to start your day, from PaymentsSource and around the Web. Today: NAB's in the middle of a payments fraud probe; Russia moves to faster payments; ATM attacks on the rise; Unauthorized cryptomining is an expanding threat.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

Bank of America plans to stop lending to companies that make assault-style guns used for nonmilitary purposes.

If banks with high loan-to-deposit ratios overpay for brokered and promotion-driven deposits to fuel loan growth, they run the eventual risk of a liquidity crunch in an era when deposits — and the economy itself — are expected to be more volatile.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.

The music streaming services are becoming popular advertising vehicles for community and regional banks.

With consumer privacy issues in the spotlight, Citibank is betting its app — as an offering from a trusted data partner — will be more appealing than those from unknown brands or companies that have less liability if security breaches occur.

AccessFintech lets financial firms track trades and aggregates data in order to get a sense of risk across a number of systems.

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.

Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms.

Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice.

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.