Banking

Amegy Bank of Texas in Houston has promoted Laif Afseth from executive director of commercial and industrial lending to president of the company.

Chief Technology Officer David Reilly has had to make major reductions in traditional expenses so Bank of America can afford to collaborate with fintech firms that are developing innovative products the bank craves.

Two Democratic Senate Banking Committee members have asked Walmart, Green Dot, and MasterCard to explain an outage in which Walmart MoneyCard users were blocked from accessing their funds.

Marketplace lenders have been declaring "FICO-free Zones" and playing down the need for the longstanding measure of creditworthiness. FICO CEO Will Lansing explains how the company's score is evolving and why he believes FICO remains the best (not necessarily the only) way to determine ability to repay a loan.

Dollar Bank in Pittsburgh has agreed to buy Bank @lantec in Virginia Beach.

Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at American Banker's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.

LendingClub Corp. named Scott Sanborn to replace its founder and chief executive officer, who resigned unexpectedly last month, and said it will dismiss 179 employees to cope with the decline in loan volume caused by the turmoil.

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

The U.S. Supreme Court on Monday allowed a class-action lawsuit against Encore Capital Group Inc. to proceed, declining to hear the debt-buying giant's claim that such companies should be protected from state laws barring money-lending at unreasonably high interest rates.

Synovus Financial struggled along with its customers during the financial crisis. Now that it's healthy again, it credits the strong ties it built with those customers, and the involvement of its executives in the communities they serve, with helping restore its status as one of banking's most reputable brands.

Even though cybersecurity jobs can offer six-figure salaries, generous signing bonuses and other perks, banks are struggling to find people to hire.

WASHINGTON — Community banks and credit unions would be forced to stop making short-term, small dollar loans if the Consumer Financial Protection Bureau's payday lending proposal is adopted, two trade groups said Monday.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.

Bay Bancorp in Columbia, Md., has named one of its largest investors, Steven Hovde, to its board.

Kroger is suing Visa, alleging the network threatened to raise fees and cut off the supermarket chain from accepting its debit cards.

Embattled prepaid card issuer Green Dot has officially split the roles of chairman and chief executive by naming a longtime payments industry executive as its new chairman.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

Citizens Bank's largely millennial student loan applicants were not responding to email and phone communications. So it created a messaging service that mimics the social media they know and love.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

BankFinancial in Olympia Fields, Ill., said it expects to record an $875,000 gain in the second quarter after selling three loans.