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Policymakers should not let mortgage REITs, hedge funds and other firms gain membership through captive insurance companies.

Mark Sander, who has been with the company since 2011, succeeded Michael Schudder, who remains chairman and CEO.

State Street Corp. said it’s laying off 1,500 staff as part of a plan to reduce costs.

Valley National will reinvent itself as Vast Bank over the next few months. The move is part of an effort to attract younger customers.

A spike in charge-offs in the third quarter stoked concerns about commercial real estate exposure. Shares in the Arkansas company rose after it reported its fourth-quarter results.

The Midland, Mich.-based institution returned $19.4 million to members for 2018 through rewards and dividends.

The units that handle small business payments and the one for larger firms will be combined; survey shows U.K. consumers may shun loans.

Credit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.

The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm extends restaurant ordering; Walmart adds to delivery service; Hong Kong residents want data sharing; Wirecard teams with Swatch.

The acquisition of VAR Technology Finance bolsters the bank's efforts to expand into new areas of lending.