Consumer banking
Consumer banking
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Banks are hiring armies of lawyers, accountants, compliance consultants and IT vendors as they prepare to comply with the Volcker Rule. Ironically, their attempts to fortify themselves with outsourced knowledge could expose them to more operational risk.
November 4 -
Until U.S. authorities can prove they have a better idea about how to provide short-term, small-dollar loans and other alternative financial services to people in need, they should stop trying to drive from business the lawful companies working to serve this market.
November 4 -
Bitcoin merchant services provider BitPay added support for contactless Near Field Communication payments through its new Bitcoin Checkout App, eliminating several steps in its payment process.
November 4 -
JPMorgan Chase & Co. (JPM) said it faces a U.S. criminal probe into foreign-exchange dealings and boosted its maximum estimate for "reasonably possible" losses on legal cases to the highest in more than a year.
November 4 -
Banco Santander SA said third-quarter profit rose 52%, beating estimates, as charges for bad loans dropped in Spain and earnings climbed in the U.K. and Brazil.
November 4 -
Thomas H. Lee Partners and Warburg Pincus are selling the rest of their stock in Umpqua Holdings in Portland, Ore.
November 4 -
Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to buy Hampden Bancorp in Springfield, Mass.
November 4 -
Collection industry giant NCO Financial System's parent company Expert Global Solutions (EGS) announced Monday it has closed a previously announced deal to sell several business segments to a private equity firm.
November 3 -
Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.
November 3 -
Community bank investor Kenneth Lehman is seeking regulatory approval to buy nearly half the shares in Village Bank & Trust Financial in Midlothian, Va.
November 3 -
WASHINGTON Federal regulators released a document summarizing their general findings from recent cybersecurity assessments at community-size financial institutions.
November 3 -
Banks, which once hoped that restaurant discounts and other card-linked offers would replace much of their lost debt swipe fee revenue, now have diminished expectations for the business.
November 3 -
Southern First Bancshares in Greenville, S.C., is planning to sell 1.2 million shares of its common stock.
November 3 -
Columbia Banking System in Tacoma, Wash., and First Business Financial Services in Madison, Wis., were among a sizable group of banking companies that completed acquisitions in recent days.
November 3 - Illinois
Bank of America and U.S. Bank are nearing a settlement agreement with a Chicago pension fund over charges that the banks failed to protect investors from losses during the financial crisis.
November 3 -
Fifth Third Bancorp has lowered fees and eased terms on short-term, small-dollar loans as it awaits clearer guidance from regulators on the product's future.
November 3 -
The bank's first chief data officer, A. Charles Thomas, is training his analytical eye on cross-selling opportunities, delivering instantaneous client data to employees and hiring techniques.
November 3 -
Bank of America's website was down for about an hour early Monday afternoon.
November 3 -
A group of investors has raised its stake in Doral Financial on a belief that the San Juan, Puerto Rico, company will prevail in its effort to claim a $230 million tax refund from the territory's government.
November 3 -
Hampton Roads Bankshares in Virginia Beach has named John Marshall Jr. as chief risk officer. He succeeds Robert Bloxom, who retired from Hampton Roads at the end of September.
November 3


