Banking

Readers react to the CFPB’s final arbitration rule, a new potential hurdle for initial coin offerings, a housing finance reform proposal and more.

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: Facebook makes payments on Messenger easier; Cards overtake cash in Australia; RBS' bailout fintech deal; Canadian payment project reaches payroll.

Wells Fargo's campaign to rebuild customer and shareholder trust just hit another bump, as the bank said it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance.

Profits rose 20% at the Texas bank, but net interest margin growth last quarter, and the bank’s margin outlook for the rest of this year, disappointed analysts and investors.

The New York Times explores why we lack female CEOs, Uber considers Bank of America’s Anne Finucane for its CEO spot, and State Street’s head of corporate governance explains its push for gender diversity on boards. Plus, who needs a hero?

Financial regulation is too complex and needs to be retooled to improve access to credit, President Trump’s nominees to two top banking regulators told Capitol Hill on Thursday.

Valley National's latest acquisition would make it a much bigger player in Florida and provide a platform to write more auto loans. Both markets present attractive returns but high risks.

Lustig, Glaser & Wilson often harassed the wrong consumers, demanded amounts that were not owed, bullied consumers into paying from exempt income, and failed to obtain legitimate documentation of those debts, state officials said.

Luring developers from Silicon Valley and cloud computing are among the bank’s strategies for staying competitive in a changing tech environment.

Through the partnership, Clarity Money customers can use Acorns’ automated investing features, while Acorns users can see a snapshot of their investing activity in the Clarity app.

The Detroit company is capitalizing on other banks' retreat from the auto sector.

The fine for BTC-e was the Treasury’s first action against a money-services business located in a foreign country, and the second against a virtual currency exchange.

Up to now, the most successful fintech firms have tried to fill gaps in underserved market, not replace banks. But a new crop of U.K. startups seeking bank charters is turning up the heat.

The company will also gain $260 million in loans and $180 million in deposits from Banner Corp.

The company has agreed to buy Puget Sound Bancorp to expand in a competitive, fast-growth market.

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 earnings boost; Stripe buys tax tech; UniCredit suffers a breach; ItzCash raises funds.

Companies planning to raise money by selling electronic tokens for cryptocurrencies said they won't be put off by SEC warning of regulation; soaring costs trigger exodus from traditional coastal financial hubs.

The Riverwoods, Ill., company is trying to assure Wall Street that its higher chargeoff rates signal a return to normalcy, rather than a cause for alarm.

The Blairsville, Ga., bank is in growth mode with strong second-quarter lending performances and two deals in the works, but its provision for loan losses was described as too low in one research note.

The Texas company would add seven branches and more than $300 million of assets by acquiring Valley Bancorp.