Medallion Bank in New York has sold its asset-based lending division to an unnamed buyer.

Royal Bank of Scotland will soon launch a customer pilot of Luvo, a chat bot taught to answer customers' questions in near-real time and route more complex requests to advisers using IBM Watson Conversation.

Mission Asset Fund has helped people build their credit by formalizing the informality of lending circles. The John D. and Catherine T. MacArthur Foundation recently named Mission's CEO José A. Quiñonez one of its 2016 Fellows.

Visa, MasterCard and American Express lost an early round of a lawsuit alleging they colluded to pin liability for fraudulent transactions on merchants who didn't meet a chip-reading technology deadline.

Male bankers are often unaware of how they benefit from a level of privilege that limits the advancement and contributions of their female colleagues, to the detriment of the entire industry.

Standard Chartered in London has hired a key executive from Independent Bank Group in McKinney, Texas, to oversee its U.S. operations.

B of A's Merrill Lynch unit by early next year plans to join Charles Schwab, Fidelity Investments, BBVA Compass, U.S. Bancorp and others in offering clients a low-cost investing app and online service.

Capital One Financial plans to start issuing credit cards for the outdoor equipment chain Cabela's under a deal connected with the retailer's expected sale to Bass Pro Shops.

Midland States Bancorp in Effingham, Ill., has ended loss-share agreements related to two failed banks it acquired.

Total deposits at U.S. banks climbed nearly 6% year over year, to $11.3 trillion, even as the total number of banks and branches declined.

Fallout from the Wells Fargo phony accounts scandal has reached Midwest bond borrowers, with Illinois announcing bans on bond and investment work and the Chicago City Council set to consider a moratorium on any bond-related business.

The $9.6 billion-asset company disclosed in a recent regulatory filing that it has a letter of intent to buy an unnamed banking company in Florida with about $400 million in assets.

It's hard to sell a big bank something regardless of the tech company's size. But for early-stage startups with only a handful of employees and a product still under development, the challenge is far greater than for seasoned tech vendors.

Independent ATM operator Cardtronics plc is expanding to Australia and New Zealand with the purchase of Canada’s DirectCash Payments Inc., which operates ATMs in several regions.

A Morgan Stanley unit was accused by Massachusetts officials of forcing its financial advisers into high-pressure sales contests to cross-sell so-called securities-based loans and other products to clients.

Chicago Treasurer Kurt Summers plans to divest $25 million the city has invested with Wells Fargo after the company admitted to opening potentially millions of bogus client accounts, joining state officials who have pulled business from the bank because of the scandal.

First Merchants Corp. recently agreed to buy a minority stake in a bank in an attractive market. The move could allow the company to obtain intel while gaining an edge should the other bank decide to sell.

Prosper Marketplace is closing the secondary market for its loans, citing a lack of demand among investors.

While the Wells Fargo scandal might offer marketing opportunities for community banks, there is concern about regulatory fallout that fails to distinguish between large and small banks.

A strategy to reinvigorate black-owned financial institutions would not only bring hope to the black community but would also be an inspiration for other minorities who seek to be more effectively served by financial institutions that understand their needs.