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FDIC: Community banks outperform industry in third quarter

Abrigo

To provide a report card on industry status and performance, the FDIC publishes a Quarterly Banking Profile. Another bright spot: less than seven percent of community banks were unprofitable – the lowest since the second quarter of 2006. They performed better than a year ago and also outperformed the industry as a whole.

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PSCU Names Kevin Spear New SVP, Service Delivery

PYMNTS

This is Spear’s second round at PSCU, as he was previously in charge of Client Relations and Services at the company from 2006 to 2012. Spear has already held several executive roles in sales, service and client relations with firms including Card Management Corporation, PNC Bank and UPS Capital Corp. “It

Industry 130
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Green Dot CEO: 20 Years Of Innovating ‘Banking For The Masses’

PYMNTS

His main exposure to the payments industry was using his Bank of America debit card to pay for things at the store. That brought about an idea to create a card that would give kids — who didn’t have a credit card, but did have access to high-speed internet at school — a way to buy things online. area Rite Aid stores in 1998.

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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs

PYMNTS

Before this year, the last time that happened was in 2006, when Walmart made a move on an ILC. Walmart claimed it wanted to leverage the proposed bank mainly for the purpose of lowering costs of its backroom processing of check and credit card transactions and to offer high-interest certificates of deposits.

Industry 108
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Data’s Influence And Contactless Vending, In Style At Fashion Week

PYMNTS

In 1943, the fashion capital of the world at the time, Paris, was at war and under siege. In fact, “see now, buy now” experiments were underway at Fashion Week New York this year, care of a partnership with Visa that brought tap-to-pay with contactless cards and devices to Fashion’s big show this year.

New York 144
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LendingClub Settles With SEC, DOJ

PYMNTS

When LendingClub entered the market in 2006, Laplanche had one idea in mind: disrupt the banks. It was an idea slightly ahead of its time, but not by much – and despite the fact that most startups get their start by maxing out their credit cards. In 2010, LendingClub added to its war chest with a $24.5 lending marketplace.

Lending 135
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When Predictions Go Right … And Not So Right

PYMNTS

Even if there were a trustworthy way to send money over the internet (which there isn’t), the network is missing a most essential ingredient of capitalism: salespeople.”. The mobile wallet in 2014 is a lot like the MP3 player in early 2001, just before the launch of the iPod, or the smartphones available in 2006 ahead of the first iPhone.

Apple 150