Consumer banking
Consumer banking
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The U.K. government said it will sell Northern Rock to Virgin Money for £747 million ($1.2 billion) cash, marking a major loss on its investment in the mortgage lender that became a symbol of the financial crisis.
November 17 -
In the first criminal case involving robo-signing of mortgage documents, Nevada's attorney general filed charges Wednesday against two people accused of filing tens of thousands of false documents.
November 16 -
The Treasury and the banking industry would like nothing better than to see more credit unions convert to taxpaying banks. This is hardly going to happen if CUs perceive the OCC as an inhospitable regulator of their mutual form.
November 16 -
NBT Bancorp Inc. in Norwich, N.Y., said late Wednesday that it will acquire Hampshire First Bank in Manchester, N.H.
November 16 -
PerkStreet Financial said Wednesday that it had named PayPal Inc. president Scott Thompson to its board.
November 16 -
Regulators are writing massive, complex rules that will be impossible to enforce. Editor at Large Barbara A. Rehm offers an alternative.
November 16 -
U.S. banks may get to spend some excess cash on loans or lines of business that European banks will seek to dump. Still, a cloud hangs over the outlook for bank M&A next year.
November 16 -
American Banker's editors discuss Wal-Mart's latest attempt to eat bankers' lunch.
November 16 -
Target's U.S. credit card segment churned out a $143 million third-quarter profit, up 10% from a year earlier. But it could be the unit's last such impressive quarter for a while, an executive warned on Wednesday.
November 16 -
Bank of the West in San Francisco is entering the Chicago area by opening a commercial banking office.
November 16 -
The Atlanta bank will let First Marblehead market and process all new student loans by next fall.
November 16 -
Card data security risks for online merchants or those operating payment schemes via cloud computing will get much attention next year from the Payment Card Industry Security Standards Council.
November 16 -
The special inspector general for the Troubled Asset Relief Program said Wednesday that it worked with Google to suspend advertising for a slew of alleged online mortgage modification scams.
November 16 -
Anemic household expenditures this year heightened anxiety that the economy would stall out, but growth in spending on plastic has remained healthy. An increased appetite for big-ticket items among households that are surviving the malaise probably explains much of the phenomenon.
November 16 -
Charles Schwab Corp. has finalized its purchase of Compliance11 Inc., a Chicago firm that helps securities and investment firms manage their compliance with regulations.
November 16 -
A pair of healthy banks destined to be partners are nearing deadline as investors anxiously wait.
November 16 -
Cor blimey, IT jobs are heading over the pond.
November 16 -
The name of Visa Inc.'s digital wallet understates its ambition for the service. That may turn out to be a smart branding move.
November 16 -
It's time for our regulators to think broadly about what our financial system needs and then take a stand. Simply grinding out Dodd-Frank proposals that no one understands — like the risk-retention proposal and the Volcker Rule release — is not the answer.
November 16 -
The Consumer Financial Protection Bureau is asking students, colleges and lenders for information on the private student loan market that will inform a joint report to Congress required by the Dodd-Frank Act.
November 16





