Finance

Square burst on the payments scene nine years ago with a card reader that allowed small merchants to accept plastic card payments through their mobile devices. Its Square Cash app received considerably less fanfare — until now.

The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.

While the $632 million-asset nbkc bank was the smallest known participant in the recent round of funding for Greenlight, the investment wasn't its first foray into fintech.

The quarterly earnings decline from a year earlier was largely due to a one-time hit to the value of banks’ deferred tax assets, according to the agency’s Quarterly Banking Profile.

The company will also surpass $10 billion in assets when it buys Community Bank.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

Former CUNA economist Bill Hampel has attended the trade group’s Governmental Affairs Conference for decades, but this year he’ll do so as a Wegner Award winner.

In the developing world, connecting payments to the Internet of Things could have an immediate and transformative effect on people’s lives.

Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants.

Organizers aiming to open a de novo just outside Charlotte say there's a need for a new community bank after several years of consolidation in the market.

Canadian Imperial Bank of Commerce’s push to be less domestically focused is showing signs of success, thanks to its June takeover of Chicago-based PrivateBank.

Process would protect taxpayers from bailing out failed banks; bank plans to raze its midtown Manhattan headquarters and build a 2.5 million sq. ft. edifice on the site.

A community group has secured a grant from the W.K. Kellogg Foundation to probe banks’ small-business lending practices. It follows a 2017 pilot study in which the group found that white shoppers posing as business owners were three times more likely to be invited for follow-up appointments than their black counterparts and twice as likely to be offered help in completing loan applications.

As inflation fears put upward pressure on 10-year Treasury bonds and mortgage rates nationally, borrowers could start to take more notice of what lenders are charging them locally.

The company could use proceeds from the planned offering to add branches and make bigger loans.

Stuart Gulliver’s final set of results at HSBC Holdings Plc weren’t quite the swansong he’d hoped for as he hands the reins over to his long-term lieutenant, John Flint.

Average pay among big bank chiefs last year rose 17% to $25.3 million; bank may let go up to 500 bankers and traders in latest restructuring.

Just two months after a capital infusion, First Capital Bancshares added banking veterans including John McCoy and Harvey Glick as directors in a board overhaul, changed CEOs, and decided to move its corporate headquarters to Charleston, S.C.

The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.

The Chicago institution, formed in 2010 to buy the failed ShoreBank, has hired Sandler O'Neill to gauge interest from potential buyers, according to a published report.