Banking

Virginia Partners will operate as a separate bank unit after the deal closes.

The Wilmington, Del., company has identified the 30 branches it plans to close or sell following its acquisition of Beneficial Bancorp in Philadelphia. Most of the closures will take place in Pennsylvania.

The National Credit Union Administration board voted to decrease the normal operating level for the share insurance fund in addition to prioritizing alternative capital as part of its regulatory reform.

The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.

Three different methodologies will be tested in the pilot program, which is expected to last about three years.

Augmented devices and automation will push banking services beyond the current mobile phone delivery model into a virtual world — but how, exactly? Bank of America, Wells Fargo and others are trying to find out.

Robinhood Financial, one of the most valuable private companies in the financial technology space, is rolling out its take on the traditional bank account starting on Thursday.

When Trinity Capital in New Mexico put itself up for sale last summer, it reached out to several local banks to gauge their interest. Then came a surprise offer from a suitor based a thousand miles away.

Morris State will pay $24 million for the parent of Farmers & Merchants Bank.

New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country.

The Ponca City-based institution becomes the first credit union in Oklahoma to join CU*Answers.

Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go tries smaller stores; CULedger joins R3; YayPay draws funds; German cryptobank debuts.

The two agencies seek to end the acrimony with the companies they regulate; the government is trying to make it easier for the wounded Deutsche Bank to merge with rival Commerzbank.

Banks have the opportunity to transform from being the trusted custodians of our money to being the trusted custodians of our data, writes Martijn Moerbeek, director of group digital strategy and innovation at Legal & General.

The U.S. subsidiary of the Royal Bank of Canada has added bankers from MUFG Union Bank and Bank of America to its Orange County, Calif., team that serves the aerospace and defense industry.

The banking software company has agreed to acquire Avoka, a software-as-a-service company that helps banks with customer acquisition.

Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities.

Owners of firms that employ only themselves would prefer to use loans or lines of credit, but more often than not they resort to credit cards, according to a new Fed report. Is this a missed opportunity for banks?

Millyard Bank aims to become the state's second post-crisis de novo. Primary Bank opened in 2015.