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.”