Retail & Commercial

The Armed Forces Benefit Association plans to sell its bank to local management. While insurers have been fleeing the industry due to regulation, the group says it is getting out because its membership's use of the bank is falling and it would rather use the capital to expand its life insurance business.

Sam's Club plans to launch a cash back program for a new co-branded MasterCard that will also leverage EMV-chip technology, providing some much-needed momentum for the EMV migration in the U.S.

M&T Bank (MTB) in Buffalo, N.Y., has been named the exclusive banker for its hometown Erie County, which was looking to cut costs.

It's not easy to survive as a single-branch community bank anymore. That's the view of John Essen, president of Community Savings Bank in Bethel, Ohio, which agreed this week to merge with Home Building and Loan Co., a savings and loan in Greenfield, Ohio.

Bank executives see opportunity in selling MSRs and servicing the loans for the buyers.

An appeals court on Wednesday voided a controversial decision in 2011 by New York Judge Jed S. Rakoff, saying he erred in scuttling a $325 million settlement between the Securities and Exchange Commission and Citigroup (NYSE: C).

Xapo says its Bitcoin debit card will start rolling out by the end of June, and it will be accepted anywhere by using the rails of a card network, interchange fees included.

Community banks consider customer service their big advantage against larger competitors. But that strategy may not be working.

Sallie Krawcheck, a former executive at Bank of America (BAC) and Citigroup (C) who has worked to promote women as business leaders, is teaming up with a money manager for an index fund focused on women.