Online Business Bank Azlo Is Shutting Down

Azlo, an online bank for small businesses, is shutting down. The news comes after its parent bank, BBVA USA, also made the decision to shut down Simple Bank. BBVA announced in November it would sell its U.S. business to PNC Financial Services Group.

Simple Bank Is Shutting Down

Simple, an online only bank, is shutting down amid the pending sale of its parent bank, BBVA USA. Simple notified employees on Wednesday and told customers Thursday, calling the pending closure a “strategic decision.”

Samsung Pay Will Launch Debit Card in Partnership with SoFi

Samsung Pay Will Launch Debit Card in Partnership with SoFi Samsung Pay was launched in 2015. Even today it remains one of the few options with built-in magnetic secure transmission technology (MST) along with NFC functionality, making it possible to pay practically anywhere you can swipe a card. Samsung Pay offers a rewards program, which…

Fifth Third Bank in Hot Water for Opening Fake Accounts and Transferring Customer Money without Consent

Fifth Third Bank Fake Accounts Lawsuit Fifth Third Bank employees allegedly opened fake accounts without customers’ consent, because they hoped to meet aggressive sales goals, according to a lawsuit filed by the Consumer Financial Protection Bureau on Monday. The federal regulator alleged that the bank knew its employees were opening fake accounts since at least 2008…