Finance

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

Jon Zanoff, managing director of Barclays New York Accelerator, has been coaching fintech startups for decades. He offers tips on how to make it as a fintech startup and run an effective accelerator.

The $32 million purchase of Sunshine Financial will provide First Bancshares with its first branches in Tallahassee, Fla.

Because their businesses operate mostly with cash with little financial record keeping, the nearly 100,000 kiosk owners in Kenya have no way to qualify for traditional loans and lines of credit offered by banks. Plus, the kiosk owners have no mechanism to place stock orders directly with a wholesaler.

The Tennessee company also set high expectations for revenue opportunities while projecting it will deliver a 15% return on equity in 2019.

The business faces a difficult comparison to last year, when activity spiked after Donald Trump’s surprising presidential election win, executives at the companies said.

Recent growth has come through acquisitions, including the 2015 purchase of a transportation finance business from General Electric and the 2011 takeover of Milwaukee-based Marshall & Ilsley.

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.

The company agreed to buy TCSB Bancorp, the parent of Traverse City State Bank, for $63 million.

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

The expected refund is tied to loans that investors bought when they acquired the failed BankUnited in 2009.

Introducing limits on federally guaranteed loans to graduate students, instead of letting them borrow whatever schools charge, would create a multibillion-dollar opportunity for private lenders.

Malvern Bancorp’s restatement of nearly four years of results worked out in its favor, but it had to acknowledge — and explain — the reason: Outside accountants spotted a problem in its financial-reporting controls.

Royal Bank of Canada showed it can defy expectations even while being more selective in lending.

For remaking East West Bank from a small savings institution into a $36.3 billion-asset player with a seat on the front lines of U.S.-China relations — all while churning out record earnings year after year — American Banker is recognizing Ng for being a "Consistent Performer" as part of our 2017 Banker of the Year awards.

Integrity is set to become the third Houston-area bank acquired by Independent in recent years.

One of the world's largest bitcoin exchanges, bitFlyer, has landed in the U.S. with a focus on institutional investors — a move that suggests bitcoin's days as a payments instrument are still a long way off.

FCB will pay $88 million in cash and stock for Floridian in a deal that will boost its operations near Miami.

The company agreed to pay $169 million for First Evanston Bancorp in Illinois.

Tennessee-based CU has returned $71.5 million over the last 13 years.