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DePaul University launches online bank

DePaul University launched an online bank on Tuesday geared toward the school's alumni, employees and students. The Internet-only bank was built in partnership with Columbus, Ohio-based Sutton Bank and will offer a range of banking and brokerage services, including online bill payment and presentment. DePaul, located in Chicago, said the school began considering the plan two years ago and quietly opened the online bank late last month. The bank officially opened Tuesday. Last year, Philadelphia's Drexel University created financial portal and online bank AJDrexelBank.com.

DePaul University launched an online bank on Tuesday geared toward the school's alumni, employees and students. The Internet-only bank was built in partnership with Columbus, Ohio-based Sutton Bank and will offer a range of banking and brokerage services, including online bill payment and presentment. DePaul, located in Chicago, said the school began considering the plan two years ago and quietly opened the online bank late last month. The bank officially opened Tuesday. Last year, Philadelphia's Drexel University created financial portal and online bank AJDrexelBank.com.