Banking

Ten years ago the global financial crisis began with subprime mortgage problems in the U.S.; the more you have, the more you get.

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: BofA's China move; Digital ID advances in Australia; Password 'rules' creator apologies; ATM marketing expands in China.

The Pasadena, Calif., company reported net income of $19.3 million, up from $8 million in the same period a year earlier.

Regulators and consumer activists are examining the relationships among banks, insurance companies and auto-loan borrowers following the new revelations about Wells Fargo and insurers' rising premium income.

NCUA Chairman Mark McWatters has written a letter to a House Financial Services Committee member defending the agency’s use of a contingency arrangement to recover funds lost during the corporate credit union crisis.

As banks press for deregulation, the debate over whether high bank capital standards are inhibiting loan growth has taken center stage.

Young businesses often prefer banks, especially community banks, over online lenders. However, traditional lenders need to make quicker decisions, simplify the application process and make other improvements, these customers say.

Do customers want to log in to mobile banking by snapping a picture of their eye? Bank of America will spend the next six weeks finding out.

Wells Fargo's regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter.

Lake Michigan Credit Union’s deal for Encore Bank would give it a total of 10 branches on the Florida Gulf Coast.

Credit unions have surpassed both Capital One and Wells Fargo, which was the No. 1 auto lender in 2016.

Wells Fargo's admission that it charged customers for auto policies they didn't request has prompted an investigation by the California Department of Insurance.

Bank may have failed to refund insurance premiums to customers who repaid their auto loans early; digital coin offerings proceed despite warnings from SEC.

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: Chase reportedly cuts branch debit issuance; Venmo adds QR codes; Monzo apologizes for outages; CBA hit with AML claim.

At a time when many banks struggle to win over millennials, Ally Bank appears to be bringing them in: more than 60% of new customers are millennials. President Diane Morais explains how the bank is getting the attention of a younger generation. One popular product: debit controls.

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

Many banks are adopting an “it takes money to make money” approach, paying more interest on deposits in exchange for loan growth, fee income and customer retention.

Supporting the Ronald McDonald House, Habitat for Humanity and other ways credit unions are making a difference in the communities they serve.

With lawmakers reportedly looking into NCUA’s $1 billion legal bill, some members of the NCUA board behind that arrangement say they’re unsure what exactly legislators are hoping to accomplish.

The online lender said it is on track to hit its goal of becoming profitable by yearend. It also extended a partnership agreement with JPMorgan Chase.