Banking

It was a bad year for the CEO of Equifax, the founder of a high-flying fintech and the regulatory agency bankers love to hate.

EU banks will soon start sharing customer account data with all third parties their customers approve. Very few U.S. banks have latched on to this concept. Here’s why.

Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill.

Regional and community banks will offer low-cost or no-cost financial products through Bank On, which has already reached agreements with Regions Bank, Wells Fargo and SunTrust.

The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.

BankMobile, the digital-only subsidiary of Customers Bank in Wyomissing, Pa., is planning to use software by Upstart to offer its first credit product to graduates and other young consumers with little to no credit history.

The deal for the San Diego company would be PNC's second nonbank acquisition in less than a month.

Notre Dame Federal Credit Union in Notre Dame, Ind., said late last week that it raised $12 million from a new fund created to provide secondary capital to credit unions, angering bankers who see it as a disturbing trend.

Notre Dame Federal Credit Union in Notre Dame, Ind. said late last week that it raised $12 million from a new fund created to provide secondary capital to credit unions. It comes a month after a similar move by Jefferson Financial Federal Credit Union.

In a relationship-based business, it’s not enough to sell your customers a sharp tool to pay for things. You also have to help them avoid cutting themselves with it.

The Wisconsin-based corporate credit union will pay out a 7 percent return to members, a new record for the CU.

The credit bureau enraged many with its response to a massive data breach this fall, but closing the company down would ultimately harm consumers.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon faces regulatory pressure in France; Italian banks build blockchain; Swiss cryptocurrency company seeks bank license; PCI Council adds new director.

The $50 billion threshold replaced by a formula, but bill must be reconciled with Senate version; Fed, FDIC say the eight big banks still have work to do.

The blockchain startup continues to pack its board with mainstream finance experts.

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

The Fed approved an application giving Natcom Bancshares indirect control over Republic Bank, declining to take into account claims the transaction imperils the target's S corporation status.

The House vote moved a sharp reduction in the corporate tax rate for banks and other businesses to within a few steps of becoming law.

This year has been very good to regional banks, bitcoin investors and several bank CEOs who pulled off big deals or successfully refined business models.