Retail & Commercial

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

The San Diego bank has agreed to assume $225 million in deposits at no premium from Modern Woodmen of America, which is shuttering MWABank, its direct bank subsidiary.

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.

Virginia Partners will operate as a separate bank unit after the deal closes.

The Wilmington, Del., company has identified the 30 branches it plans to close or sell following its acquisition of Beneficial Bancorp in Philadelphia. Most of the closures will take place in Pennsylvania.

The National Credit Union Administration board voted to decrease the normal operating level for the share insurance fund in addition to prioritizing alternative capital as part of its regulatory reform.

The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.

Augmented devices and automation will push banking services beyond the current mobile phone delivery model into a virtual world — but how, exactly? Bank of America, Wells Fargo and others are trying to find out.

Robinhood Financial, one of the most valuable private companies in the financial technology space, is rolling out its take on the traditional bank account starting on Thursday.