Banking

Franklin Financial, which was recently freed from a memorandum of understanding, has installed interim leaders after its founding CEO's retirement and his son's resignation.

Six senior executives at Chemical and TCF will move into similar roles when the merger closes later this year. Chemical Bank's current CEO, Tom Shafer, will become president of the combined bank, reporting to CEO Craig Dahl.

The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.

Several banks could lose money over tax credits tied to DC Solar, a California firm wrestling with a fraud claim.

Until now, Toyota Financial Services has offered banking services to its dealers. But as it builds its digital bank, that will soon change, according to its newly appointed chief information officer.

Events like the recent government shutdown present opportunities for banks to help customers when they need it most.

Recent history shows how dangerous these short-term products can be without appropriate guidelines in place.

The California company could charge off $15 million because of allegedly fraudulent acts by an employee at one of its correspondent customers.

SIFMA approval could bring new competitors and housing finance reform; number of applications rose but amount borrowed still lags other firms.

The information you need to start your day, from PaymentsSource and around the Web. Today: EU provides some Brexit relief for payment companies; Knowledge of crypto lags in the U.K.; Jumio expands in Latin America; Sinemia changes its payment policy.

Readers consider Square's bid to become an industrial loan company, weigh the Federal Deposit Insurance Corp.'s oversight of brokered deposits and debate reforms to the Consumer Financial Protection Bureau.

The bank will fund community development financial institutions that lend to women-owned businesses backed by the fashion designer's foundation.

Its move into new states will allow the nation’s largest bank to pursue the loan and deposit business of more state and local governments.

John Quill, a former deputy comptroller, had a key role deciding which banks could participate in the Troubled Asset Relief Program.

In the face of tough questioning from House members, CFPB Director Kathy Kraninger appeared mostly unfazed and tried to strike a balance between heeding concerns about the agency’s power and supporting its mission to help consumers.

The lab works with more than 200 data scientists to create access to affordable credit and help financial firms match products to customers, the company says.

The National Credit Union Administration will return the money to credit unions after having lowered the agency's normal operating level last year.

Valley Bank spent millions on bank acquisitions under its previous CEO. Its new leader has taken a markedly different approach.

Control breakdowns and poor governance can affect fintech partnerships of all types, whether lending, payments, deposit-taking, wealth management, or insurance activities,according to Cliff Stanford, a partner in Alston & Bird's Financial Services and Products Group.

Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payments' former compliance chief.