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: Android Pay's "virtual" prizes; Blockchain group looks for investment; a new tech center in Paris; Russian bank hit by a "SWIFT-style" attack.

TriState Capital Holdings in Pittsburgh has terminated an agreement to buy a fixed-income team.

Large financial services firms are right to fight data-aggregation access, but they'll lose this fight to arguments based on innovation and "inclusion" if they do not quickly enhance their own value proposition.

A trio of activist investors is targeting big U.S. financial institutions in 2017, demanding they disclose compensation data for men and women, and publish statistics about the race and gender of their employees.

Ray Davis is stepping down as Umpqua's CEO at yearend and transitioning to a new role as head of its year-old innovation lab. In his 22 years, he built Umpqua from a sleepy local bank into a regional powerhouse and internationally recognized brand.

The $9 billion-asset company said in a press release Monday that it bought the business assets of Ronald N. Lazzaro in Rutland, Vt., a financial planning an investment services firm.

Banks and credit unions in California plan to participate in a new working group that will focus on the cannabis industry's lack of access to the mainstream financial system, according to state officials.

Plaza Bank in Seattle has promoted its chief lending officer to become CEO. The $65 million-asset bank said in a press release Monday that Michael Anderson also succeeded Michael Clabby as president on Nov. 23.

Alliance Data Systems, a Texas-based card issuer, has scrapped plans to let rewards points expire after customers north of the border revolted.

Three fund managers and two advisory firms have soured on PrivateBancorp's planned sale to CIBC, raising the possibility that investors could nix the deal. What would happen next is anyone's guess.

Union Bankshares in Richmond, Va., has sold $150 million in subordinated notes. The $8.2 billion-asset company said in a press release Monday that the notes will initially bear an annual fixed interest rate of 5%.

Nearly a decade after he was forced to resign as CEO of Commerce Bank in Cherry Hill, N.J., the retail banking innovator was named chairman at Republic First Bancorp, which has adopted many of Commerce's practices.

Deutsche Bank has hired two executives to fill newly created positions meant to foster development of fintech products.

While the designation of the retired neuroscientist Ben Carson to run the Department of Housing and Urban Development appears to be an unusual choice, lenders are hoping he can bring a fresh perspective to the industry.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Mobile could become the one-stop shop that banking companies never quite achieved, blending basic banking, wealth management and other services, if efforts like those underway at Citigroup's fintech unit succeed.

Pinnacle Bank in Gilroy, Calif., is looking to raise about $3 million through a rights offering.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

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: Researchers hack Visa in six seconds; China's on top of the fintech world; e-commerce mitigates currency woes in Africa; an old smartphone attack is back.

Community Bank System in DeWitt, N.Y., has agreed to buy Northeast Retirement Services in Woburn, Mass.