Banking

Fintechs should learn to value risk management — and the necessary bureaucracy that comes with it, bankers said this week in defending themselves again criticism that they are a pain in the neck to work with.

Endeavor Bank in San Diego aims to be the third new bank to open this year. There is hope that as many as eight new institutions could open in 2018.

Comerica's chief accounting officer since 2010, Carr will replace David Duprey, who is retiring early next year.

The data concierge service will find, obtain, clean, integrate data for financial firms, for a monthly fee.

The company has agreed to buy CBBC Bancorp. It also raised $63 million to pay for the deal and fund future growth.

Mobile banking, oddly enough, is redefining the role of call center agents as customers handle routine tasks on their smartphones and reach out for help with bigger-picture questions.

Today is the final day to submit photos for CU Journal's annual "A Day in the Life of Credit Unions" photo spread. Here's how you can be a part of it.

The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa pushes wearables at the Olympics; U.K. regulators may make it easier for payment crime victims to recovery funds from banks; Stripe invests in Monzo; Coin Hive hits UFC.

While the U.S. unemployment rate is low at 4.1%, certain cities are adding jobs at a much-faster clip than others in sectors such as health care, construction and technology. Those markets are providing new opportunities for banks to bring in deposits and make more loans.

The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach.

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period.

Rep. Blaine Luetkemeyer is calling on bank regulators to draw up a list of guidance going back 20 years to determine whether it should be submitted under the Congressional Review Act.

With marijuana sales set to become legal in California soon, a working group there says that a state-backed financial institution should be among the measures weighed to address the lack of banking services available to the pot industry.

Residents' low incomes usually disqualify them for standard student loan refinancings, but SoFi and other lenders describe these borrowers as strong credits with high earnings potential who could offset some of the risks lurking in student loan pools.

The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.

The biggest thing going for recent mobile apps launched by Wells Fargo and JPMorgan Chase may not be any digital innovation associated with them.

The banks' newest offerings hope to attract young clients and keep them there for life. But they face stiff competition.

The firm outlined a plan in September to generate $5 billion in additional revenue over the next three years, with more than 40% of that coming from lending.

Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.