Banking

The bank consortium R3 CEV has released its Corda platform as open source to encourage innovation and interoperability in the industry's development of blockchain technology.

Post-crisis regulations were not only costly but may have undermined executive accountability by turning CEOs into compliance managers instead of drivers of business decisions.

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: Apple Pay's unhappy holiday; U.K. cash protest; hackers demand Bitcoin ransom; India's cash crisis hurts Euronet Worldwide's ATM earnings.

Goldman Sachs, one of the biggest technology spenders in the industry, admired for being tech savvy as well as extremely private, has publicly acknowledged its use of Infosys's Finacle software to run Marcus, the online lending subsidiary it launched two months ago.

For its commitment to improving the long-term health of depositors, and a nimble, failure-is-not-a-dirty-word approach to innovation, USAA has earned an honor American Banker normally bestows on a single individual.

Americans could have significantly more money saved for their retirement, if not for all the fees that the asset management industry charges. What's worse is most savers are unclear how much they are paying, to whom, and for what. The authors of "What They Do With Your Money: How the Financial System Fails Us and How to Fix It" propose some changes that they say would not only help the economy grow faster but improve corporate America overall.

CAN Capital said Tuesday that CEO Daniel DeMeo has been placed on a leave of absence. Parris Sanz, the company's chief legal officer, is now serving as acting CEO.

Whether banks view them as rivals or partners, fintech firms' rising influence is prompting banks to make a host of welcome changes, including heavy recruitment of young, tech-savvy professionals, according to heads of several major U.S. banks.

President-elect Donald Trump's imminent choice for Commerce secretary is a billionaire investor who swooped in to prop up troubled banks after the financial meltdown. Some members of the banking world, including regulators, may be glad he was picked for Commerce chief instead of Treasury secretary.

Opus Bank in Irvine, Calif., has hired a veteran risk manager to structure senior debt for commercial and specialty banking.

Glen Burnie Bancorp in Maryland has announced an executive departure for the second time in three months.

The Federal Deposit Insurance Corp.'s third-quarter earnings report was stacked with good news: record earnings and lending, fewer troubled loans and higher interest and noninterest income. Yet there was one statistic that is likely to fuel more calls for help from Washington.

First Bancorp in Damariscotta, Maine, has repurchased warrants it sold to the Treasury Department under the Troubled Asset Relief Program.

USAA has debuted several new features designed to make its digital wallet more versatile and to cast payments as one of a series of services.

Bank of New York Mellon has created a dedicated innovation group for launching new technologies in its treasury services unit.

Financial industry groups have rolled out a plan for keeping bank customers' data safe if a mega-disaster, like a massive attack or a natural disaster, strikes.

The credit union had asset of just over $76,000, and NCUA determined it was insolvent with no prospect for restoring viable operations.

Bank of New York Mellon has created a dedicated innovation group for launching new technologies in its treasury services unit.

Debby Hopkins, chief innovation officer at Citigroup and chief executive of Citi Ventures, the bank's venture capital investment arm, is set to retire at the end of the year.

Citigroup mobile-app users can now track the status of deliveries of replacement credit cards.