Banking

The bank must make fundamental changes to avoid becoming the ultimate scapegoat for grievances about Wall Street's biggest banks.

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: Visa's opens tech in Africa; Pebble phases out; Brazilian card draws funds in a tough market; EU can't meet standards timeline.

U.S. banks are smart to take their time in embracing a model that cedes space to nonbank competitors and could put consumers more at risk for identity theft.

The post-election rise in stock prices has been a boon for investors, but it is also causing notable changes for financial institutions. Here are a number of ways that the rally can help — and hurt — the banking industry.

The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor.

Circle Internet Financial is deemphasizing bitcoin services to focus on global mobile payments, it said Wednesday as it unveiled a new blockchain protocol called Spark and messaging features for its existing app.

Biometric authentication company Veridium has named a former fintech executive from HSBC as its new CEO.

The Office of the Comptroller of the Currency is expected to downgrade Wells Fargo's Community Reinvestment Act rating in January to "needs to improve," from "outstanding," according to a story by Reuters, citing unnamed sources.

The education-finance sector would have likely faced a challenging policy landscape under a Clinton administration. But its future is looking particularly bright now that Republicans are firmly in control in Washington.

The Consumer Financial Protection Bureau on Wednesday filed consent orders against three reverse mortgage companies, accusing them of deceptive advertising and misrepresentations.

Community banks are increasingly looking to fintech firms as a way to offer customers the tech they want in order to be competitive.

Allegiance Bancshares in Houston has recruited a new chief financial officer.

Customers Bancorp of Wyomissing, Pa., has entered into a cease-and-desist order with the Federal Reserve related to the student disbursements business it bought from Higher One Holdings. It also agreed to pay a civil penalty of $960,000.

The $3.5 billion-asset company submitted a shelf registration that lets it sell common stock, preferred stock, debt securities and warrants, among other things.

The American Bankers Association has filed a lawsuit against the National Credit Union Administration, arguing that the regulator's new field-of-membership rule go too far.

Citigroup in early December added its 1 millionth new customer to the Costco card portfolio it acquired earlier this year.

There's no denying we are in a mobile-first era. But banks must overhaul their online banking to reap long-term profitability.

Pacific Financial in Aberdeen, Wash., is looking for a new chief credit officer.

Finicity, a provider of real-time financial data aggregation and insights, has closed a $42 million round of funding.

U.S. Bancorp in Minneapolis has raised its expectations for its net interest margin in the fourth quarter, citing the recent increase in benchmark rates.