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The Dallas bank appointed Sonya Trac to lead business development in communities that have been hit hard by both the pandemic-induced recession and a recent wave of discrimination. It is also depositing $2.5 million at a Los Angeles bank that serves Asian Americans.

The change reflects the name of the Susser family, which bought the bank in 2018.

The fintech already sells loans on its distributed-ledger-based trading platform but needed the Securities and Exchange Commission's blessing to bundle its mortgage and student loans into securities and sell them to investors.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

The company, which operates private-label and cobranded credit card and loyalty programs, plans to spin off its loyalty operations this year to improve ADS' financial performance.

Daylight, a digital banking platform for the LGBT community, uses its customers’ preferred names on debit cards rather than their legal names. Through a new social media campaign, the company is encouraging the American Bankers Association and its members to do the same.

The move formalizes the use of the Rocket Mortgage moniker, which has been a major part of the company’s branding since 2016.

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

Digital payments can cut costs, errors and other tasks that would be prohibitive on their own, says Kofax's Lindsay Pinkos.

Minority-led community development entities often lose out in getting NMTC support. They know best which investments will have the greatest impact on communities of color.

MoneyGram will offer a service for the conversion of digital currency into cash at its retail locations in the U.S. through a partnership with cryptocurrency exchange Coinme.

The software-as-a-service platform eliminates manual collection of outstanding invoices, and also predicts when a customer is likely to pay, based on past payment habits.

The Denver company, which has branches in El Paso, will gain more locations in cities such as Dallas and Austin with the pending purchase.

As profit margins shrink, Rocket and UWM expect to make it up on greater volume; the program would put the auctioneer in competition with traditional lenders and its former unit, PayPal.

A Federal Reserve proposal that would require banks to give merchants more choices in routing certain debit transactions could be a prelude to a more consequential change: a lower cap on interchange fees for banks with more than $10 billion of assets.

The urgency to streamline processes during the pandemic accentuated how digitization can also drive diversity, fairness and better environmental outcomes, says Microsoft’s Bill Borden.

Legacy vendors are competing more aggressively to modernize payroll, insurance payouts and data sharing.

Daily edition for May 12, 2021.

Three Republicans joined Senate Democrats in voting to overturn a rule issued by the Office of the Comptroller of the Currency that makes it easier for national banks to sell loans to nonbanks. A companion resolution has been introduced in the House.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.