Banking

Wintrust Financial in Rosemont, Ill., rode strong gains in both interest and fee income to a record profit in the third quarter.

Student loan borrowers face breakdowns and delays in applying for repayment plans that feature loan forgiveness or interest subsidies, the Consumer Financial Protection Bureau said in a report released Monday.

Visa unexpectedly announced the resignation of CEO Charlie Scharf, making way for longtime Amex executive Alfred F. Kelly, Jr., a current board member, to take over the role effective Dec. 1.

Such a charter comes with a bevy of legal and policy questions to resolve, including whether parent companies of firms that obtain a fintech charter would have to subject themselves to oversight by the Federal Reserve Board. State regulators, meanwhile, fear a new charter could erode their ability to regulate firms within their jurisdictions.

Oconee Financial in Watkinsville, Ga., has named a former Atlanta-area banker its new chief executive.

Strong growth in deposits and mobile users at Bank of America, together with questions tied to the phony account scandal at Wells Fargo, had B of A executives addressing whether their bank and others would be better off than ever by scaling back branches.

The California company will report a quarterly loss after credit issues surfaced in its technology lending division. Opus had expressed an interest earlier this year to expand the business after making a key hire.

The Federal Financial Institutions Examination Council reiterated Monday that its cybersecurity assessment tool is voluntary, despite bankers' fears that not using it could put them in hot water with their examiners.

U.S. Bank is using geolocation to make sure customers' card transactions are approved when they are traveling. It is just one example of how more companies are asking customers to let them track their phones.

Bank of America's chief financial officer on Tuesday downplayed the odds of a Wells-Fargo-style phony-account scandal at B of A, contending that it does not use hard-charging sales tactics.

The demographics of our country are changing. If businesses aren’t figuring out a way to change, too, they risk being left behind.

With rivals such as Chase and its Sapphire Reserve card angling for a piece of its luxurious patch, Amex has found itself on the defensive.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. In today's briefing: Australia's banks and Apple Pay; Thiel doubles down; Brexit weighs on Misys.

Opus Bank in Irvine, Calif., said Monday that it expects to report a third-quarter loss of 5 cents a share, reflecting $38.8 million in chargeoffs tied to eight loans in its technology, commercial and specialty lending divisions.

Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren.

WSFS Financial in Wilmington, Del., has bought the assets of West Capital Management in Philadelphia.

As a result of the SEC's latest reforms, today's money-market funds are very different products than their precrisis predecessors. Calls for additional layers of burdensome regulation over this industry are unwarranted.

Bank of America, the second-biggest U.S. lender by assets, said third-quarter profit rose 7.3%, beating analysts’ estimates, as revenue from fixed-income trading was better than predicted and expenses fell.

Dorothy Savarese, the head of Cape Cod Five Cents Savings Bank in Massachusetts, seeks a financial system where the rules encourage community banks and big banks to do the things that they are best at.

Thanks to smart investments and relentless cutting of assets and businesses, Citi is looking leaner and healthier than it has in a long time.