Consumer banking
Consumer banking
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From the architects of multibillion-dollar mortgage settlements comes the latest scare for banks: a Department of Justice investigation of subprime auto lending. But the auto loan market has a different track record and players than mortgages, setting the stage for a unique fight among prosecutors, lenders and dealers.
August 6 -
BancorpSouth has withdrawn applications for two planned acquisitions after the Tupelo, Miss., company drew regulatory scrutiny for its Bank Secrecy Act compliance.
August 6 -
Independent Bank Corp. has spent recent years looking for a way to break into Boston without overpaying. It recently found a steal in Peoples Federal, a former mutual, in a deal that boosts earnings and tangible book value.
August 6 -
Bank of America (BAC) raised its quarterly dividend to 5 cents a share and dropped plans to buy back stock after the Federal Reserve approved its resubmitted capital plan for 2014.
August 6 -
Regions Financial has created a corporate and investment banking services group aimed at the financial sector itself.
August 6 -
Global Payments Inc., a global processor servicing more than one million merchants, will enable its clients to accept digital currency in a move that may attract more international shoppers to brick-and-mortar merchants.
August 6 -
The members of Monterey Credit Union have voted to convert from a CU charter to a mutual savings bank, the first step on the way to becoming a commercial savings bank.
August 6 -
CIT Group Inc., the business lender that last month agreed to buy OneWest Bank, has no plans to become a "serial acquirer," of financial firms, Chief Executive Officer John Thain said.
August 6 -
Creating deeper bonds with business clients can help banks win market share. But organizational inertia and sales managers who are quick to fall back on old habits often hobble this approach, according to consultant Duncan Banfield.
August 6 -
SunTrust Banks in Atlanta has named Susan Somersille Johnson head of its marketing division.
August 6 -
Community Health Systems, a for-profit hospital operator, will pay the federal government to resolve allegations that it submitted false claims for short-stay admissions.
August 6 -
While bankers' reputation as the unquestioned authorities on financial services may be changing, the importance of face-to-face interactions has not lessened, according to contributor Dave Martin.
August 6 -
Municipal Collections of America will recover outstanding parking ticket fines and unpaid civil penalties for red-light violations in Tuscaloosa, Ala. under a contract city council members approved this week.
August 6 -
Independent Bank in Rockland, Mass., has agreed to buy Peoples Federal Bancshares in Brighton.
August 5 - Wisconsin
Anchor Bancorp in Madison, Wis., is back on solid ground with federal regulators.
August 5 -
Ocean Shore Holding in New Jersey has completed a buyback of 200,000 shares of its common stock and has authorized an additional repurchase program.
August 5 -
Stronger margins are no automatic byproduct of next year's anticipated increase in interest rates. Higher rates are expected to spark a runoff of deposits at various banks, and some of those banks are more vulnerable than others to steep losses of low-cost funding.
August 5 -
Citigroup's $285 million mortgage-securities pact with the U.S. Securities and Exchange Commission was approved by a judge whose earlier rejection of the accord was assailed by a federal appeals court.
August 5 -
Third-party debt collectors recovered $55.2 billion last year for creditor and government clients, returning to them an estimated $45 billion.
August 5 -
Banks with at least $10 billion in assets are becoming more aggressive when it comes to giving out small business loans, but the group still approves credit at a much smaller rate than its competitors, a Biz2Credit study found.
August 5



