CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services. ... Read full article
The California plan to create a new, tougher state regulatory agency is at the finish line after lawmakers agreed to key exemptions for banks while maintaining strong enforcement measures for payday lenders and other firms. ... Read full article
Caitlin Long, a former Morgan Stanley and Credit Suisse managing director, is starting a special-purpose depository institution that will provide payment and custody services to institutional investors and corporate treasurers. ... Read full article
The deal continues Sound's push into markets north of its Tacoma headquarters. ... Read full article
The bank is making continuous improvements, including integrating Merrill Lynch accounts into its banking app and adding a security feature to Zelle. ... Read full article
The results of the American Banker/RepTrak Survey of Bank Reputations underscore the importance of communicating in a crisis. ... Read full article
The National Credit Union Administration issued one prohibition notice for August. ... Read full article
Industry groups are also pushing the federal regulator to improve how off-site examinations are conducted. ... Read full article
The hedge fund being started by the former acting head of the CFBP aims to bet on financial services stocks; large and small institutions are getting hit from all sides by the pandemic. ... Read full article
Visa and JPMorgan Chase & Co. are in the middle of a 10-year merchant services agreement that gives Chase merchants certain advantages with the expected goal of favoring Visa card volume. But it’s not an exclusive arrangement. ... Read full article
The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators. ... Read full article
I suspect that slipsters already know about this podcast. But, just in case any of you have not, I wanted to flag Promises, Promises by Dave Hoffman and Tess Wilkinson-Ryan. This is especially wonderful if you are teaching contract law via zoom this ... Read full article
The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse. ... Read full article
The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur. ... Read full article
The Iowa company said the coronavirus outbreak and litigation against AimBank will postpone the deal's completion by a few months. ... Read full article
The company said the sale will provide more consistent financial results and allow it to redeploy funds to support other businesses. ... Read full article
Data from the National Credit Union Administration shows that despite a dip during the second quarter, the rate of industry consolidation has not changed dramatically from last year, despite the pandemic. ... Read full article
Mike Duncan had kept a low profile as chairman of the U.S. Postal Service’s board of governors until it hired Louis DeJoy as postmaster general. Now he is sharing an unwanted spotlight with the embattled DeJoy. ... Read full article
The company said migration to digital channels spurred its decision to shutter locations across five states. ... Read full article
Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices. ... Read full article
