Colin Wilhelm

Ocwen Financial has agreed to pay $150 million to New York regulators to settle allegations that it fudged foreclosure documents and said Monday that its founder and, executive chairman, William Erbey is stepping down after 30 years with the Atlanta company.

First Guaranty Bancshares in Hammond, La., has postponed its initial public offering, citing "unfavorable market conditions."

The Financial Crimes Enforcement Network, a division of the Treasury Department, has assessed a $1 million civil penalty against MoneyGram International's former chief compliance officer.

The Financial Crimes Enforcement Network, a division of the Treasury Department, has assessed a $1 million civil penalty against MoneyGram International's former chief compliance officer.

Engine, an industry group for startup businesses, sent an open letter to the Securities and Exchange Commission earlier this week requesting action on the crowdfunding provision within 2012's JOBS Act passed by Congress.

The $1.3 billion-asset company said in a press release that Thomas Cherry will succeed Larry Dillon, who will remain chairman and chief executive. The company added that Cherry is expected to eventually succeed Dillon as CEO.

Once known as peer-to-peer, online marketplace lending grew phenomenally and evolved rapidly in 2014, as capital flooded in from institutional investors and traditional bankers sat up and took notice.

Before its IPO this week, online lending platform OnDeck was operating "with the discipline of a public business," holding simulated earnings calls among other exercises, says Noah Breslow.

The Consumer Financial Protection Bureau is suing a Dallas company that the agency says misled customers into signing up for a "sham" credit card.

Global Payments Inc., based in Atlanta, Ga., has partnered with Bank of the Philippine Islands (BPI) on a joint payment service and merchant acquisition venture.

George Engelke Jr., former chairman, president, and chief executive of the Astoria Financial in Lake Success, N.Y., has died.

Adyen joins the ranks of financial technology companies to receive big money this week, announcing a $250 million funding round today.

NCR's Silver point of sale system has integrated SCVNGR's LevelUp mobile wallet and customer loyalty app.

The mobile point of sale provider ShopKeep is releasing hardware that is compatible with Apple Pay's Near Field Communication payment system and EMV-chip cards.

The global ATM market will reach $21.9 billion by 2020, according to a new study by Allied Market Research.

UnionPay International, a payment subsidiary of China UnionPay based in Shanghai, has partnered with foreign cultural icons to promote its brand as UnionPay looks to expand its payments business globally.

Renaud Laplanche is a happy if somewhat tired man. The company he founded, Lending Club, exceeded most expectations by closing its first day of public trading at $23.43 after starting at $15. But challenges lie ahead for his company and others in the alternative lending space.

The Treasury Department has sold nearly a fifth of its stake in Puerto Rico's First Bancorp in recent months.

Paul Camp, a veteran of JPMorgan Chase and Deutsche Bank, has joined the digital-currency consumer finance company Circle Internet Financial as the startup’s new chief financial officer.

The Small Business Administration has introduced a new online credit scoring tool that can be used for most of its small business loans of $350,000 or less