Retail & Commercial

As smartphone-carrying baby boomers retire, banks can no longer ignore seniors' unique digital banking needs.

Servicing rights are high-yielding assets, making them attractive investments for hedge funds, real estate investment trusts and banks.

The U.S. Department of Education has changed the student loan default rates at 21 colleges to allow them to continue receiving federal funding.

The industry "as a whole" benefits from tech investments at megabanks, says Manuel Chinea, chief operating officer at Popular Community Bank. Big banks have taught consumers how to use new mobile features – and small banks can use that knowledge to their advantage, as they roll out new products.

Varo Money, a mobile-only startup that focuses on financial health, announced Monday it has raised more than $27 million. The global private equity firm Warburg Pincus led the round.

Old National Bancorp in Evansville, Ind., will exit the insurance business after selling those operations to Prime Risk Partners.

Pacific Premier Bancorp in Irvine, Calif., is planning to close three California branches.

When state and federal regulators closed Trust Company Bank in Memphis, Tenn., on Friday, it was only the second U.S. bank failure this year.

JPMorgan Chase shareholders should support a proposal to consider an independent chairman, proxy adviser Glass Lewis & Co. said.

Royal Bank of Canada named Jefferies Group's Michael Armstrong as head of its U.S. wealth-management business.