Banking

The $2 billion-asset company said in a press release Wednesday that Douglas Glenn resigned as president and chief executive. Glenn, who was 48 as of the company's April 27 proxy, also resigned as a director. He had been the chief executive since August 2011.

A Federal Reserve decision is expected soon on M&T's long-delayed application to buy Hudson City Bancorp. M&T would still get strategic benefits it sought, but Hudson City has shrunk and become less profitable since it agreed to sell three years ago, and the cost of the deal has risen.

It remains unclear if a new platform from the Chicago Board Options Exchange will provide enough incentives and safeguards to prompt community banks to switch from using the existing federal funds system.

Alliance Data Systems has agreed to work with Toyota on a new line of private-label credit cards and to manage the Japanese automaker's existing co-branded card program.

Among other reasons for seeking their own charters, the U.K.'s so-called challenger banks say they need to avoid being beholden to older institutions that can slow down the creative process.

CircleBack Lending, a Boca Raton, Fla., marketplace lender, has completed a $17.4 million round of equity financing.

Visa's ATM biometric trial in South Africa has the potential to spread a security technology that has encountered resistance in other parts of the world, including the U.S.

When people talk about the issues that now imperil community banks, they focus on things like low net interest margins and excessive regulations. But it's a dearth of young talent that could wind up dooming small banks.

Iberiabank in Lafayette, La., plans to close eight branches in Louisiana, Alabama and Florida.

Ontario Systems has been acquired by private equity firm Arlington Capital Partners, the two companies announced Wednesday.

Student loan default rates have doubled in the last decade and new research indicates the bulk of the increase is tied to the number of non-traditional borrowers attending two-year colleges and for-profit schools.

Small installment loans with monthly payments limited to 5% of a borrower's income offer a way for banks to serve low-income customers' credit needs while turning a profit.

Simmons First National in Pine Bluff, Ark., has agreed to an early termination of its federal loss-share agreements for its acquisition of four failed banks.

A small Internet-focused bank plans to offer Prosper Marketplace's personal loans directly to its own customers through the bank's website. Prosper could use it as a template for deals with other banks.

Alliance Data Systems has agreed to work with Toyota on a new line of private-label credit cards and to manage the Japanese automaker's existing co-branded card program.

Peoples Community Bank in Greenville, Mo., has agreed to buy Cabool State Bank, also in Missouri.

The digital currency industry reacted warily to a model framework for regulating such firms released Tuesday by the Conference of State Bank Supervisors, arguing the language is too vague and treats digital assets like normal money.

License numbers for loan officers, real estate agents and settlement agents will be required on one of the new TILA-Respa integrated disclosure forms, raising questions about whether they could trigger investigations of possible illegal marketing services agreements.

Baker Boyer National Bank in Walla Walla, Wash., has tapped president Mark Kajita as its new chief executive.

Chan Patel and Nitin Shah view the hospitality industry — not geography — as their banks' communities.