The finance industry pushed back against a proposal by the CFPB that would ban arbitration clauses in consumer contracts, saying it will pave the way for a flurry of class action lawsuits and result in higher prices for products and services.

Banking is often seen as a quintessentially modern institution. But financial practices are deeply rooted in the medieval period.

A debt-buying giant has been recognized by Forbes as one of America's Best Midsize Employers.

A federal judge in Pennsylvania has ruled that a recovery agency facing alleged Fair Debt Collection Practices Act violations will see that case go forward.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Though many have tried and failed to get bitcoin into the mainstream, iPayYou CEO Gene Kavner is ready to take a page out of the playbook of Amazon.com, his former employer, to bring attention to his new bitcoin wallet.

One of the last surviving black-owned banks in Chicago was rescued from its loan-related woes by a Ghanaian-American family.

The $1.6 billion-asset Bar Harbor said in a press release Thursday that it will pay $143 million, or $17 a share, in stock for the $1.6 billion-asset Lake Sunapee.

The finance industry pushed back against a proposal by the Consumer Financial Protection Bureau Thursday that would ban arbitration clauses in consumer contracts.

National Capital Bank of Washington has a named Richard Anderson its new president and chief executive.

Hefty investments in customer-facing technology such as person-to-person payments, mobile check deposit and fingerprint recognition have given big banks a decided edge in attracting and retaining younger consumers.

Going forward, Fannie Mae will be relying more on loan guarantee fee income from its single-family and multifamily businesses.

Add HSBC to the list of banks offering Touch ID authentication services to mobile banking customers.

Midland Financial in Oklahoma City has hired a former Wells Fargo executive to run its finance unit.

Banc of California bulked up quickly in the aftermath of the financial crisis, first through acquisitions and now with organic growth. CEO Steven Sugarman discusses how his bank manages its exposure while preparing to cross an important regulatory threshold.

The job of chief financial officer is more complex than ever, requiring high levels of expertise in not just accounting, but also compliance, technology, investor relations and strategic planning. CFOs today also need to have strong interpersonal skills and show an ability to juggle multiple tasks at once. Here are some helpful hints from existing CFOs on how to flourish in one of banking's most demanding jobs.

Subprime auto lender Credit Acceptance Corp. has received a subpoena from the Maryland attorney general regarding its repossession and sales policies.

In a major setback for banks, credit unions, credit card companies and many other financial firms, the Consumer Financial Protection Bureau on Thursday issued a proposal that would ban the use of arbitration clauses that prevent consumers from bringing class-action lawsuits.

Requirements that banks share anti-money-laundering information should extend to fraud and cyber risks, to connect the dots between bad actors and their transfer of money.

Short Hills, New Jersey, is among the richest communities in the U.S. The directors of a local savings and loan get paid accordingly.