Retail & Commercial

Legal and technical hurdles stand in the way of remote account opening becoming commonplace. But banks are ramping up their efforts to make it happen, and some in Congress are trying to help by eliminating restrictions on digitally capturing and storing information from customers' ID cards.

Visa's incoming Chief Executive Officer Alfred F. Kelly will enter the job with a $15.4 million target compensation. That's a premium to his predecessor and about on par with Mastercard Inc.'s CEO Ajay Banga.

The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.

David Stevens, the chief executive and president of the Mortgage Bankers Association, revealed Monday that he has been diagnosed with cancer in prepared remarks at the association's annual conference in Boston.

Lenders will get a reprieve from the threat of some mortgage-related penalties under a new program announced by housing-finance giant Fannie Mae on Monday.

Access National in Reston, Va., has agreed to buy Middleburg Financial in Virginia for $233.1 million, or $32.51 a share, in stock.

Community Bank System in Syracuse, N.Y., has agreed to buy Merchants Bancshares in South Burlington, Vt., for $304 million, or $44.02 a share, in cash and stock.

To land and retain millennial customers, mobile banking apps must graduate from simply replicating online banking on a phone to leveraging the native functionality of mobile hardware.

Blockchain and the 'Internet of Things' are enabling a lot of new payments innovation. In Canada, they're part of a huge project that could radically change ID security for more than just payments.

The U.S. migration has passed the one-year mark, but more key dates are on the horizon.