Insurance

Continuity and speed are just two benefits of payment automation, says VPay's Elisa Logan.

Financial Institutions in New York has agreed to acquire Landmark Group, which provides services to the construction, manufacturing, real estate and technology sectors.

The company's insurance arm, which recently bought a Texas-based insurance tech firm, is on pace to complete five deals this quarter.

The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.

The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency.

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

BNY Mellon has launched a system that automates medical and dental insurance claim payments, attaches benefit explanations and enables virtual card support for medical providers.

The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.

The company has now filed three lawsuits in its bid to recoup nearly $900 million it inadvertently sent to the cosmetic company's creditors.

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to Brigade on Revlon's behalf.

With more employees than ever working from home due to the coronavirus, credit unions' networks may be less secure than usual. But purchasing cyber insurance to help cover the costs if a breach occurs isn't as clear cut as it may seem.

Some institutions may want to consider self-insurance to lower expenses as the coronavirus cuts into earnings.

The Wisconsin regional said the funds will support loan growth and its dividend policy as well as create an added capital buffer.

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.

Dozens of firms in industries most immediately hit by the virus and oil-price war — such as leisure, transportation, health care, energy and mining — have been drawing billions of dollars from existing credit lines.

Healthy Blue of Louisiana plans to provide its members with access to medical and behavioral healthcare via telehealth.

National Lloyds, which provides insurance for mobile homes, has a distribution network that operates in 40 states.

The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.