Banking

A yearlong effort to slash costs boosted profits at the Dallas company.

Announcing that a formerly free product or service will now cost money exposes banks to reputational risk. But the process doesn’t have to end in customers getting angry.

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: Mastercard plans to buy AI company; Amazon broadens retail push; Swift invites more banks to KYC group; Revolut expands payroll tech; Max Baucus lauds China's payments tech.

Former Visa CEO replaces Gerald Hassell; Acting Comptroller Noreika asks Cordray to delay rule that makes it easier for consumers to sue banks.

Bank of America Corp.’s expected bonanza from rising interest rates has stalled.

The CEO of Keefe, Bruyette & Woods, a top matchmaker for bank mergers, explains why large banks will soon return to dealmaking after a long absence, the case for starting new banks and the enduring value of branches.

The Pittsburgh bank is developing new products, simplifying old ones and modernizing its workplace based on detailed feedback from consumers, small businesses and employees in an attempt to create a bank they all like better.

Doing the right thing to benefit the communities they serve is an integral part of the credit union difference.

The company will gain more than $500 million in assets after buying Eastman National and Cache Holdings.

Investors blame Washington gridlock, lowered expectations for price drop; Wells Fargo looks to narrow its focus as it jettisons some units.

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: UnionPay gains ground; real-time payments in Europe; Amazon's payments exec gets a new role; and more.

Open APIs can bring speed and flexibility to P-to-P payments, e-commerce and financial services. But there's also identity and performance risks that banks need to address, writes Rahul Singh, president of financial services at HCL Technologies.

The system can run more than 12 billion encrypted transactions per day and can automatically keep applications, cloud services and databases hashed.

The phony-sales scandal forced a reckoning over an organizational structure that had long encouraged autonomy for the bank’s various business units.

Donating money, food, time and more to help improve the lives of others.

On the discussion table: Alipay, Jack Ma, blockchain, AI, building a true digital system, payments, financial inclusion.

Buying Capital Bank puts the company on a fast track for more regulatory scrutiny. Executives are identifying ways to boost revenue and taking other measures so it can handle the change.

The bank's Costco card portfolio boosted profits (again), as did internal growth from store-branded cards from Home Depot and Best Buy. Citi’s card business is avoiding — for now — the pain in the retail sector.

On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country.

While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.