Banking

Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.

The credit union has agreed to buy State Bank of Georgia in Fayetteville.

The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and low-income communities won’t be funded.

The startup Intrinio lets algorithmic traders and banks pick the types of company and market data they want to use rather than pay a large monthly fee for a broad, terminal-based service.

As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.

The company, which counts veteran banker Jay Sidhu among its investors, is selling to Ameris for $145 million in cash and stock.

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.

The credit union has hosted its annual Business Summit for the last seven years, and the event continues to grow in popularity.

Mnuchin’s former business associate is likely to be sworn in next week; Mulvaney, as a congressman, called the CFPB a “joke” and co-sponsored a bill to kill it.

The information you need to start your day, from PaymentsSource and around the Web. Today: Technology pros turn down jobs in the U.K. because of Brexit; Amazon Key has a security gap; Singapore extends its fintech influence; Gaming takes to cryptocurrency.

Readers weigh in on the departure of Richard Cordray, debate whether online lenders are akin to subprime lenders, offer praise of a community banker, and more.

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle.

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered too harsh on financial firms.

The company has agreed to pay $49 million for First West Virginia Bancorp, the parent of Progressive Bank.

Look who's co-chairing the notoriously male-dominated World Economic Forum. A female automotive enthusiast eloquently calls out an industry where bias is ingrained in the everyday language, and women in prison cook up a better future. Plus, State Street, Goldman Sachs and Bank of Montreal.

While technology will let many banks cut staff and reduce the size of branches, factors such as geography, customer demographics and strategic direction will ultimately shape the look and feel of future offices.

Mick Mulvaney, President Trump’s Office of Management and Budget director, is being considered for interim director of the consumer watchdog after Richard Cordray steps down and until a permanent pick is confirmed.

The Senate confirmed Joseph Otting, a former business partner of Treasury Secretary Steven Mnuchin, to lead the Office of the Comptroller of the Currency.

It’s good to be a business lender with a long contact list. Loan growth is weak and the talent pool has been shrinking, so banks big and small are paying top dollar to get an edge.