Banking

David McLaughlin, founder and CEO of QuantaVerse, discusses how artificial intelligence can improve anti-money-laundering compliance; the problems of de-risking and "defensive filing" of suspicious activity reports; the Clearing House's proposal to reduce banks' AML costs; and more.

Online lenders are evading New York regulations by claiming their loans are “made” by federally chartered or out-of-state partner banks, Department of Financial Services Superintendent Maria Vullo told lawmakers Monday.

The gray-bearded ATM would seem like a goner since mobile usage is surging and cash withdrawals are flatlining. But banks such as JPMorgan, B of A and PNC are pouring money into overhauling them in a bid, oddly enough, to attract a younger generation of customer.

Helping youngsters learn to save, giving back to local nonprofits and other ways the movement is demonstrating the credit union difference.

Union Bankshares is poised to become a nearly $12 billion-asset bank in a state that lost most of its midsize institutions in the 1990s and early 2000s.

Nasdaq and Citi are partnering to utilize blockchain technology to expand and improve cross-border and private company securities payments.

Year to date through Mar. 31, 2017. Dollars in thousands

Users want more control over their data and more seamless integration with their financial tools. Banks and credit unions cannot wait for a regulation like PSD2 to move forward.

Year to date through Mar. 31, 2017. Dollars in thousands

A dozen years after it pioneered the technology, the company now says any bank or credit union using RDC is infringing on its innovation.

Santander Consumer USA, one of the biggest subprime auto finance companies, verified income on just 8 percent of borrowers whose loans it recently bundled into bonds, according to Moody's Investors Service.

The company agreed to buy Commerce Bancshares, which has three branches in Boston.

The creators of a top "altcoin" are building privacy features for JPMorgan's blockchain platform.

The $701 million acquisition will make Union the biggest community bank based in Virginia.

James Donovan cites family matters for withdrawing his name from being named Deputy Treasury Secretary; strong earnings from the Big Five may ease concerns about Canada's overheated housing market and consumer debt.

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 enables restaurant ordering; Telegram adds payments; Amazon wants to open Go in Europe; WannaCry still a threat.

From digital lending solutions for U.S. community banks to Sharia-compliant finance in Africa

A glance at the latest ways credit unions are helping humane societies, babies, kids and others in need.

The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated.

First Savings Financial in Indiana and Dime Community in New York are keen on making more SBA loans as a way to diversify revenue and generate fees through loan sales.