Banking

The Rhode Island bank plans to build out its fee income capabilities, expand C&I lending in the Southeast, renegotiate vendor contracts and take other steps to produce expense cuts and revenue enhancements of at least $90 million.

The Cincinnati company reaped the benefit of the latest round of interest rate hikes, as a higher net interest margin and lower costs helped overcome the drop in lending.

Piecemeal settlement through mandatory arbitration masks widespread misconduct like Wells Fargo’s fake-accounts scandal. Class actions bring such systemic abuses to light, and should always be an option for consumer redress.

Increased dealings in direct consumer lending and guaranteed student loans offset a decline in mortgage-related income. A lower loan-loss provision also helped the bottom line.

Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, 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: Alipay eyes Africa; CO-OP uses geolocation to reach young people; NACHA chooses a partner for microbusiness; Blockchain startup Billion draws a grant.

Payments company rises as hot premium cards fly under its banner; despite the improvements, analysts have concerns about growing credit quality issues.

But the Connecticut company says the efficiencies of its recent acquisition of Suffolk Bancorp will begin to be realized soon.

The California lender, which specializes in trade finance, reported strong growth in commercial and other lending categories last quarter, and it urged the Trump administration to seek fair trade deals with China.

After having insisted many times that it couldn't begin returning funds to CUs until 2021, the agency may have found a way to start making payments as early as 2018.

The McLean, Va., lender, which has substantial exposure to subprime consumer loans, also added to its provision for credit losses.

The $482 million deal would be Associated's first bank acquisition since June 2007.

LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks.

The Pittsburgh company, pleased with employee and client retention from its March purchase of Yadkin Financial, is looking to hire lenders from other institutions.

The Portland, Ore., company outlined a plan to boost its return on tangible common equity to between 13-15% by 2020. More details will be provided by fall, executives said.

A profile of New York's top cop for banking offers insight into her thinking on hot regulatory issues; the women behind the machine learning at Morgan Stanley and UBS see a future with better advice; plus, Jane Austen and the new Doctor Who.

New technologies are poised to sweep through investment banks, relieving many rank-and-file employees of roughly a third of their current workload, according to McKinsey & Co.

Clearing services, assets under custody and administration and other parts of the trust bank's operations rose in the second quarter, all good news as it shifts leadership from Gerald Hassell to former Visa CEO Charlie Scharf.

Leaf Commercial Capital originates about $500 million in loans annually tied to equipment and software purchases.

The regional bank reported an 8% gain in fee income and trimmed costs amid 1% loan growth.