Banking

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.

Former CFPB chief Mick Mulvaney had claimed the agency could not supervise firms for Military Lending Act compliance, but lawmakers want his successor to go in a different direction.

Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.

Blue Lion Capital said Johnny Guerry, who has sparred with other community banks, will assist in efforts to pressure the Seattle bank to improve its performance or sell itself.

The directory, which will debut next year, should help community banks find potential fintech partners.

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

The financial industry is not expecting movement on a lot of legislation given a divided Congress, but one measure is beginning to attract widespread attention.

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

The San Diego bank has agreed to assume $225 million in deposits at no premium from Modern Woodmen of America, which is shuttering MWABank, its direct bank subsidiary.

The information you need to start your day, from PaymentsSource and around the Web. Today: Big banks win payment contracts in Australia; Revolut gets a banking license; Samsung Pay's on wearables in South Africa; Danske Bank gets open; Bitcoin bomb threat.

Two U.S. senators demand an investigation into the German bank over security, criminal risks; the Treasury has proposed rules to help foreign banks deal with last year’s tax law.

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.

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.