Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.

CEO Scott Sanborn said it's unclear when demand from banks to buy the fintech's loans will return.

PeoplesBank in Massachusetts and others have developed digital brands that cater to younger customers' demands for smoother technology and mobile experiences.

The founder of the New York City bank and CDFI focused on lending to underserved communities and augmenting digital capabilities.

Worker shortages at call centers and rising concerns about account fees may have contributed to the industrywide decline, according to the authors of a new J.D. Power study. Capital One, which scored highest, benefited from its strength in digital banking.

The speed of money movement represents the future - success for those who deliver, challenges for those who don't

Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

The recent order by Director Rohit Chopra — issued just days after he was sworn in — demanding that Amazon, Facebook and others hand over information about their payments products is being interpreted as a sign that the consumer bureau wants to take a more active role in regulating the tech giants.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.