Retail & Commercial

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

The New York unit of Popular has contracted with Biz2Credit to automate commercial loan approvals and handle the underwriting for applications under $100,000.

SigFig is partnering with Citizens Bank to launch an advice platform in its effort to become a direct competitor to legacy core systems providers.

The acquisition will increase Horizon’s core deposits and add branches around Indianapolis.

The $45 million purchase will provide Peoples with eight branches and $244 million in deposits.

If approved, the Fed would consider risk factors besides size in how strenuously it oversees individual banks; Capital One's CIO on operating a bank as a technology company.

The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing.

Trade associations and other industry groups are partnering with universities and colleges to create more degree programs and special courses that prepare young people to work for banks — especially small ones.

The merger could help make open source and cloud computing more commonplace at banks. But it may have an unintended consequence as well.

Federal "Opportunity Zones" that reduce exposure on capital gains could draw rich investors — and commercial lenders along with them — into economic development projects in thousands of troubled communities around the country.