Banking

Chesterfield's proposed merger into Virginia Credit Union is expected to be completed in early 2020.

BB&T and SunTrust had to sell the branches to get Justice Department approval of their merger, a key step toward closing the deal.

Scottsdale Community Bank's organizers took advantage of a state law letting them raise capital months before seeking deposit insurance.

Banks should stop competing on volume with large techs and start competing on added-value services to win over customers.

Politicians' grand plans to reform the college funding process won't come to fruition anytime soon, so credit unions shouldn't ignore the opportunties presented by student lending.

The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.

UPI surpasses cards in India; Rapyd finds partners in Singapore; and other information you need to start your day, from PaymentsSource and around the web.

If the Fed's new service doesn't effectively prevent existing types of fraud, we might even see fraud increase thanks to the instant payments concept, says Chargeback 911's Monica Eaton-Cardone.

The veteran banker succeeded Randy Sims, who recently retired. Sims had been the Arkansas company's CEO since replacing Allison in 2009.

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits.

If the no-premium agreement announced by First Horizon and Iberiabank this week is a sign that sellers’ asking prices will come down, then Regions might reconsider its anti-M&A stance, a company executive said.

The Honolulu-based credit union saw a nearly 7% increase in new members, thanks in part to an expanded branch presence in West Oahu.

A new partnership will let some community banks and credit unions roll out robo-advice platforms without a significant investment of their own.

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Clear communication is critical when banks undergo a leadership or operational change.

More details have surfaced about Interactive Brokers' planned bank. It would accept deposits and originate loans through an online channel only, its application says.

The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic.

Google Pay gets larger in India; Visa gets a new HQ; and other information you need to start your day, from PaymentsSource and around the web.

The National Credit Union Administration approved a rule expanding institutions' access to nonmember deposits, but observers say it's unlikely to lead to a massive influx of new funding – at least for now.  

While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.