Banking

After a bogus-accounts scandal spooked new clients and crimped profitability, Wells Fargo may eliminate more branches and dismiss staff.

The consumer banking experience still needs work. But instead of investing money in consumer-facing products, we must invest in critical yet less sexy infrastructure improvements.

A tech JV between Live Oak and First Data aims to do for small-business deposits what the bank previously did for lending.

Appeals court throws out earlier ruling that federal bailout of giant insurer was illegal; Barclays chief likely to face angry shareholders at annual meeting.

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: Visa, Square push mobile at surf festival; Bank of England tightens large transaction control; Hong Kong pushes tech; Canadians comfortable without paper.

The CUSO has joined with the Center for Financial Services Innovation’s Financial Health Network to help credit unions and other institutions improve their small-dollar lending practices.

The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of data.

The Pasadena, Calif., firm also reported growth in the number of active prepaid cards for the first time since the second quarter of 2015. Profits rose by 24%.

One Bank & Trust in Arkansas just sold itself to the Treasury, resolving a legal judgment and clearing the way for a resale to the private sector.

JPMorgan Chase has some advice for regional banks: A deposit drain is coming, so merge while you can.

Credit unions announce a bevy of new leaders among the recent new hires, promotions and appointments.

Fifth Third, Huntington Bancshares and KeyCorp are among the companies backing an effort to bring startups to the Buckeye State.

Bank of Austin still needs approval from the Federal Deposit Insurance Corp., though organizers remain hopeful it can open this summer.

The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.

Banks and credit unions are often pressured to compete with third party mobile wallets to protect their brands. But it's unclear if that strategy is helpful in attracting consumers.

Despite major fanfare about new challenger institutions or digital-only bank brands, technology and revenue difficulties are among the factors threatening their ability to adapt and grow.

The top executives at Guaranty Bank said that, after years of struggles, the $1 billion-asset bank was a month or two away from raising the capital it needed to survive.

In the way that Gap and Victoria's Secret are ubiquitous in the malls dotting the suburban landscape, it is unlikely fintech partners will be exclusive to one bank.

Current, an app debuting Tuesday, updates the joint account for an era of tweens with smartphones.

Investment bank promotes several executives; banks ask Mnuchin to help roll back rule that would make them recognize loan losses earlier.