Banking

Lawrence Weinbach will replace David Nelms, who had already stepped down as CEO. The transition will take place Jan. 1.

U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans.

Synchrony Bank’s tie-in with the latest Spider-Man movie is an example of ways companies are looking to add augmented reality to their mobile-marketing arsenals.

In a rare move, Maryland Financial is voluntarily liquidating after its customer base shrank and efforts to sell itself failed.

Ameris has agreed to pay $751 million for Atlanta-based Fidelity; the combined company would have $16 billion in assets.

As Congress races to fund the government, a criminal justice reform bill could also include the STATES Act, which would provide safe harbor for credit unions serving the legal marijuana industry.

Beyond flashy and visible mobile-driven innovation and transaction options, many executives don’t see the need and opportunity that resides behind the scenes, according to Don Halliwell, director of marketing and communications at Zafin.

On Sept. 30, 2018. Dollars in thousands.

On Sept. 30, 2018. Dollars in thousands.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

Chicago Deferred Exchange, which helps clients defer tax hits from property sales, had about $1 billion in deposit flows this year.

The Albany, N.Y., institution has made millions of dollars in mortgages through a program launched in July meant for those who do good in the world.

Malaysia files criminal charges against Goldman Sachs over 1MDB; Wall Street banks hit by market volatility while small banks face margin compression.

The information you need to start your day, from PaymentsSource and around the Web. Today: Starbucks expands its deal with UberEats; Russia's Sberbank supports QR codes for payments; Nordic software comany Ervy picks up payment contracts; Sephora adds bitcoin rewards.

If they don't have them in place already, financial services firms need to provide digital budgeting tools, mobile payment and banking services before young consumers flee to other providers, says Chris Koeneman, senior vice president of strategic solutions for MOBI.

Branch acquisitions, once a popular way to scale up in new markets, have started to go by the wayside in the digital age.

Robinhood Financial has rebranded its service, deleted tweets about its launch and scrubbed the page from its website.

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say.

David Fearing will take over at Accolade Asset/Liability Advisory Services as Joe Ghammashi retires.