Banking

An alliance between State Department FCU and American Citizens Abroad seeks to lower barriers for how Americans living abroad access their money.

The city has spent more than a decade working with nonprofits and banks to encourage people to open deposit accounts. Outreach and special products have lowered the unbanked rate in San Francisco to 2.1% in 2015 from 5.9% in 2011.

On March 31, 2017. Dollars in thousands

Wells Fargo, which is expanding its investment banking unit, has hired Mike Mayo to oversee U.S. large-cap bank research.

The brand new low-income credit union will serve downtown Lincoln, Neb., and hopes to provide an alternative to predatory payday lenders.

Financial institutions are understandably concerned about sharing sensitive member data, but a fintech startup with credit union DNA is looking to change that.

Grand openings, anniversaries, benefits and more ways credit unions are giving back to the communities they serve.

The bank-owned person-to-person network formally went live Monday, enabling direct transfer of funds across 30 U.S. financial institutions. There are a lot of questions around whether it can compete with the current kings of P-to-P — Venmo and PayPal — but Zelle may not be aiming to take them head-on just yet.

The trade association for state regulators has set a July 28 deadline for nominations for the special honor.

Financial institutions are trusted stores of data about money because they are insured and have a license from governments to operate. Monetizing that data can give them a leg up on the tech giants.

The company agreed to pay $162 million to buy First South Bancorp in Washington, N.C. It is the fifth time this year that a bank in North Carolina has agreed to be sold to a buyer from another state.

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: Zelle goes live; Visa's NFC sticker; Microsoft's online bargain-hunting tool; and more.

The new acting chief of one of Washington’s major banking regulators has agreed to stay away from issues involving dozens of former legal clients, including 14 banks that the agency oversees, according to his ethics agreement.

Report is "harshly critical" of CFPB and calls for sharply reining in its powers; Financial Times editorial questions non-bank companies' ability to assess credit risk.

This morning the bank owned P-to-P network, Zelle, is formally going live, enabling direct transfer of funds across thirty U.S. financial institutions over the course of the next twelve months. There are a lot of questions around whether it can compete with the current kings of P-to-P — Venmo and its parent company PayPal — but Zelle may not be aiming to take them head-on just yet.

Post-crisis financial rules have made the business of project lending less profitable for commercial banks. Foreign competitors have stepped in to fill the void, but U.S. banks can carve out a niche as bond offering managers and financial advisers.

To teach artificial intelligence to responsibly execute human goals, there’s a need to build bridges between human thought and language computers can understand, Stephen Wolfram, founder and CEO of Wolfram Research, explains.

The Illinois company agreed to pay $44 million to buy Guaranty Bank, the biggest institution based in Cedar Rapids, Iowa.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.

Mobile remote deposit capture is said to be just the first of many tech patents the company will seek to enforce. That could cost banks that use its technologies a lot of money.