The National Consumer Law Center warned Congress on Wednesday that a change to federal law last year is troublesome because it now allows the government to use robocalls to collect debt.

The Consumer Financial Protection Bureau is expected to unveil its formal proposal to restrict payday lending on June 2, the first national regulations of short-term, small-dollar loans.

The $420 million-asset company said in a press release Thursday that Keith Costello, who formed Broward Bank of Commerce in Fort Lauderdale in 2009, will succeed Ken LaRoe as chief executive of First Green Bank.

Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've encountered checking balances and accessing funds. The problems come at an inopportune time for Green Dot.

The bureau said Wednesday that it plans to hold a public hearing in Kansas City, Mo., to discuss small-dollar lending. The hearing will be held at the Kansas City Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives and the public.

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

The Consumer Financial Protection Bureau's proposal to limit the use of arbitration clauses came under attack Wednesday for potentially raising costs and liability for financial firms.

Simmons First National in Pine Bluff, Ark., has agreed to buy Citizens National Bancorp in Athens, Tenn.

Banks have stumbled in their forays with wearable technology. Now the leading maker of personal fitness trackers plans to add contactless payment capabilities to the devices.

Gerard Champi is getting a vowel upgrade. He will be promoted to CEO from COO of First National Community Bancorp in Dunmore, Pa., this summer, according to a company news release.

A study commissioned by the Massachusetts Bankers Association found a correlation between a spike in credit unions with low-income designations and an increase in member business lending in the state.

New York's bank regulator is investigating LendingClub Corp. over loans issued to consumers and its relationships with financial institutions, saddling the embattled company with another probe after its chief executive was forced to resign earlier this month.

Banks are trying to upgrade tech offerings, from mobile banking to bill pay. But that's easier said than done, in part because the biggest core processors use their dominant market share to restrict access to banks' networks. They do this, in part, because they offer their own competing tech products.

The Consumer Financial Protection Bureau's proposal to restrict the use of arbitration clauses would allow it to seize enormous amounts of data from financial firms that could lead to more enforcement actions, according to industry lawyers.

Data through April released by S&P Dow Jones Indices and Experian shows a consumer credit default composite rate of 0.86% in April, down seven basis points from March.

Louise Walker, the head of First Northern Bank in Dixon, Calif., will be wearing an additional hat over the next year — chair of the California Bankers Association.

An appeals court panel has questioned whether Sallie Mae and SLM Corp. had actual knowledge of for-profit California Culinary Academy’s alleged scheme to prey on students and whether the lender perpetuated that lie to students.

For a more immediate payoff, community banks should focus marketing on older customers that are facing a new set of economic pressures.

One in five short-term auto title loan borrowers have their vehicle seized because they cannot pay the loan, according to a study released Wednesday by the Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau found that one in five borrowers who take out short-term auto title loans have their vehicle seized for failing to repay the loan.