Banking

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.

The first-of-its-kind study was an acknowledgment that as consumers rely more on digital banking channels, the nation's largest banks are competing more against each other and less against smaller institutions.

House Democrats are lobbying for a bill to reform the way banks charge overdraft fees, but recognizing that Republicans are unlikely to take up the legislation, they are hoping the CFPB can act on its own.

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

Ned Handy, who will take the helm in March, wants to be more aggressive luring deposits in the company's home state. That should reduce its reliance on other funding sources to support loan growth.

Equifax Inc. will debut a new service that will permanently give consumers the ability to lock and unlock their credit for free.

Rep. Patrick McHenry, R-N.C., plans to reintroduce legislation requiring the IRS to fast-track income verification, which proponents say could reduce the financial industry's dependence on credit bureaus.

MobilePay, Danske’s digital-pay subsidiary, wants Nordic banks to offer a single payment platform to counter challengers like Apple Pay and Samsung Pay.

Regulators disagree whether proposed changes to capital requirements would ease burden on community banks; JPMorgan on hook if jury award not overturned.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: PayPal's acquisition targets; A mall for supply chain logistics; Vendors line up after Equifax breach; Worldpay preps for IoT.

Washington Federal has pulled its application to buy Anchor Bancorp after regulators flagged issues tied to its BSA systems and processes. The companies said they remain committed to the deal.

The company has agreed to buy Bay Bancorp for $129 million in stock.

It’s not just consumers who are worried about identity theft. For the millions of business owners who rely on their personal credit to finance operations, damage to credit scores could have dire consequences.

Scholarships, workplace honors and other ways credit unions are making a name for themselves in the communities they serve.

The proposal is aimed at a simpler capital regime particularly for community banks, but some industry representatives and regulators themselves questioned whether the plan went far enough.

The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.

Very large, established industries like financial services have strongly entrenched ways of doing business that, over time, have become inefficient, writes Mariam Nishanian, a representative for Dentacoin, adding blockchain can change that.

How most banks obtain deposits has changed radically over the past 30 years, thanks in part to innovation. It is time for regulators to rethink their notion of what constitutes a quality deposit portfolio.

The embattled Smith may lose severance benefits, depending on firm’s probe into data breach; Clayton grilled about why the agency took so long to act after Edgar hack.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Sonic suffers a data breach; Cryptocurrency miners slow Showtime; ABN Amro supports a 'stream store'; Japan plans a government virtual currency.