Retail & Commercial

Two Democratic Senate Banking Committee members have asked Walmart, Green Dot, and MasterCard to explain an outage in which Walmart MoneyCard users were blocked from accessing their funds.

Dollar Bank in Pittsburgh has agreed to buy Bank @lantec in Virginia Beach.

Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at American Banker's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.

LendingClub Corp. named Scott Sanborn to replace its founder and chief executive officer, who resigned unexpectedly last month, and said it will dismiss 179 employees to cope with the decline in loan volume caused by the turmoil.

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

The U.S. Supreme Court on Monday allowed a class-action lawsuit against Encore Capital Group Inc. to proceed, declining to hear the debt-buying giant's claim that such companies should be protected from state laws barring money-lending at unreasonably high interest rates.

Synovus Financial struggled along with its customers during the financial crisis. Now that it's healthy again, it credits the strong ties it built with those customers, and the involvement of its executives in the communities they serve, with helping restore its status as one of banking's most reputable brands.

WASHINGTON — Community banks and credit unions would be forced to stop making short-term, small dollar loans if the Consumer Financial Protection Bureau's payday lending proposal is adopted, two trade groups said Monday.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.

Bay Bancorp in Columbia, Md., has named one of its largest investors, Steven Hovde, to its board.