Banking

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Samsung Pay in India; U.K. bar adopts contactless pay; Sydney transit adopts open payments; Rakuten invests in Uber rival.

American Banker is pleased to bring you Breaking Banks, hosted by Brett King, and featuring the editors of American Banker.

Just weeks after it shook up its executive ranks and suspended efforts to pursue new customers, the New York-based business lender confirmed Friday that it is eliminating dozens of jobs.

Pinnacle Bank in Gilroy, Calif., has appointed a new CEO and its current leaders will move into a newly created role.

Just weeks after it shook up its executive ranks and suspended efforts to pursue new customers, the New York-based business lender confirmed Friday that it is eliminating dozens of jobs.

Carver Bancorp once turned to Citigroup during a time of need for financial assistance. Now Citigroup has recruited Carver's former CEO to join its board.

Much of regtech focuses on automating compliance functions, but the human eye is still needed in some cases. Royal Bank of Canada and D+H have developed an assessment tool designed to help employees do their jobs better.

Credit One Bank in Las Vegas, Nev., a credit card specialist, plans to almost double its workforce over several years to support business growth.

To act like a startup — as many banks say they want to do — institutions must employ a nontechnical strategy: build services based on customers say they want.

Wells Fargo continues to sustain damage from consumers who were put off by the company's phony account scandal.

A federal judge heard arguments from ICBA and NCUA on whether to dismiss the banking group's legal challenge to the credit union regulator's changes to the member business lending rule. A decision on the dismissal could come as early as January.

Old Second Bancorp in Aurora, Ill., raised $45 million from a debt sale.

Pacific Metro Bank would cater to Chinese-Americans around Atlanta. The application process is worth watching since the group is seeking the first Georgia charter in seven years and would be based in a market where more than 90 banks have failed since 2007.

Borrowers served by the FHA program, particularly first-time buyers and minorities, have benefited from nonbanks' increase in lending. Those independent lenders should be commended for filling a gap.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Citi invests in blockchain; 'fast EMV' draws Brookstone; Postmates offers a virtual gift card; the U.K. publishes a guide to payments.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Travelers passing through Grand Central Terminal at the height of the evening rush hour Thursday were met with the sound of beating drums and war whoops from several dozen Native Americans protesting the Dakota Access Pipeline. They had traveled all the way from the Dakotas, they said, to bring their case to the Big Apple.

The $14.3 billion-asset company said in a press release Thursday that it will sell about 4.3 million shares of common stock.

Bankers got what they asked for when the Federal Open Market Committee raised the federal funds rate by 25 basis points this week, but some banks could face near-term pain as securities portfolios lose value and certain hedging strategies backfire. Moreover, the rate hike won't have a meaningful impact on net interest margins until loan demand picks up.

It is time for financial services to rethink retirement savings given changing work habits, customers' expectations of technology and the need for better transparency in 401(k)s.