Retail & Commercial

Instead of waiting to be disrupted by fintech startups, a pair of credit unions are rethinking what they are, who they serve and how they do it — and it's paying off by bringing younger members into the fold.

Amer Sajed, a 56-year-old Pakistan-born immigrant to the U.S., will step down from his role leading the bank’s credit card business in July after being spurred into activism by President Trump's stances on social and other issues.

While there are inherent differences between student loan and mortgage servicing, recent claims against the largest student loan servicer echo the mortgage debacle.

The lender will begin an ad campaign in mid-April with the tag line "Building Better Every Day," company employees were told Tuesday.

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.

The rapid advancement of social media platforms into the payments and finance markets, as well as millennials' devotion to apps like Venmo, were major factors driving a 47% increase in the U.S. digital person-to-person payments market last year.

In his new role at the nation's largest bank, Andrew Kresse will manage the business that serves companies with up to $20 million in annual revenue.

Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.

Shopify is making Klarna’s instant-financing offering available to merchants using Shopify’s e-commerce platform in nine international markets.

The Federal Deposit Insurance Corp. said the Deposit Insurance Fund is projected to reach 1.35% of insured deposits next year, well ahead of a 2020 deadline.