Kristin Broughton

John Hairston will stay in the newly combined role, while Carl Chaney plans to retire on Dec. 31. Hancock has been pressed by Wall Street in recent years to get more aggressive cutting costs after buying Whitney Bank.

Bank industry representatives initially panned the concept of the Postal Service offering retail banking products. But as the government official behind the idea has made clear that he is interested in collaboration with the private sector, attitudes have begun to change.

Allied Payment Network, an online payments company in Fort Wayne, Ind., released a new platform for small-businesses payments.

Wells Fargo plans to sell an $8.5 billion portfolio of federal student loans to Navient, the educational loan servicer that recently split off from Sallie Mae.

Texas Capital Bancshares in Dallas plans to raise about $150 million by selling common stock.

The $5.8 billion-asset company said in a press release Wednesday that Shelley Seifert would fill the newly created role.

InteliSpend in Fenton, Mo., has expanded its cash-back incentives after adding Discover and MasterCard to its prepaid network.

American Express Global Payments is adding cloud-based software from Intacct, a move that can make it easier to automate corporate payments, which still include paper-based processes.

Safeway FCU and Spokane City CU have selected D+H Corp. in Lake Mary, Fla., as their provider of outsourced, online banking services.

Harvard Illinois Bancorp in Harvard, Ill., which recently disclosed that it had been exposed to a fraud scheme involving certain investments, has hired an investment bank to help it "evaluate strategic alternatives."

MUFG Union Bank in New York has promoted Mike Feldman to head of branch and private banking.

The bottom line at Solera National Bancorp in Lakewood, Colo., improved from a year earlier, though losses persisted amid management upheaval.

Chemical CU in Clinton, Iowa, has agreed to merge with DuTrac Community CU in Dubuque, Iowa.

Shaza Andersen recently sent out a companywide email stating that employees who don't deposit their paychecks into a WashingtonFirst account will soon be required to pick up paper checks — from her office.

Bank of America and U.S. Bancorp reached a $69 million settlement with a group of pension funds over charges that the banks failed to protect investors from financial crisis-era losses.

The U.S. Postal Service's inspector general said Friday that it is seeking proposals from outside groups about possible postal banking services.

Hilltop Holdings in Dallas has disclosed that its mortgage unit is under federal investigation in connection with underwriting practices for loans backed by the Federal Housing Administration.

MasterCard has agreed to buy the merchant payments unit of Transaction Network Services in Reston, Va.,a deal that would expand the e-commerce services offered by DataCash, MasterCard's payment processing subsidiary.

The City of Providence, R.I., has dropped its lawsuit against Santander Bank, over charges the bank deliberately failed to provide mortgages in minority communities.

Beneficial Bancorp in Philadelphia could raise as much as $633 million through its second-step conversion.