John Adams

Hochschild, the current president and chief operating officer, has been with Discover for 20 years, and will retain his title as president upon assuming the CEO role on Oct. 1. Nelms (pictured) will continue as executive chairman until his retirement early in 2019.

With just two partnerships, eBay is cutting off a big opportunity for community banks.

Despite a reputation for being the go-to P2P app of digital natives, Venmo is once again pushing its market in the opposite direction with the debut of a plastic card.

The simplified pricing of fintechs like Square and Stripe has finally caught up with banks' more complex fees, prompting Wells Fargo to restructure its billing for small businesses. Other banks will also face consequences—particularly community banks that depend on local merchants.

Fair Square Financial has received a $100 million equity investment from the Orogen Group to fund a credit card designed for underserved U.S. consumer segments.