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Some critics of the bureau think there is a renewed chance to change the bureau's structure. They point to the presidential election and recent setbacks to CFPB Director Richard Cordray, including a watchdog's report on employee discrimination and a pending legal challenge to its constitutionality, as laying the groundwork for a change.
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Bottomline Technologies and Global Processing Services have partnered to bring consumers 'banking lite' card services.
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Berkshire Hills Bancorp is buying a bank with a national mortgage platform. The company hopes the business will provide a much-needed lift in fee income.
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Want customers and noncustomers to hold your bank in high regard? Then get executives to offer thought leadership on social issues, rather than just having them be a mouthpiece for quarterly earnings. That's what the Reputation Institute recommends, as leadership replaces performance as a key driver of bank reputations.
July 1
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China is a huge but challenging market for external payments companies, and Canadian contactless payment provider Mobeewave is seeking help in the ground by partnering with the Alliance Development Group.
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JPMorgan Chase is opening its doors to fintech startups to work with its business lines directly on bank innovations for faster, safer and more cost-efficient operations.
July 1 -
A federal appeals court decision to toss out the settlement between merchants and major card networks has re-opened old industry wounds and spells possible trouble ahead for banks.
July 1 -
Liberty Shares in Hinesville, Ga., one of a handful of banks still stuck in the Troubled Asset Relief Program, has raised $26 million in capital.
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U.S banks have come a long way from the early days of the stress tests, when it was unclear if any would pass. The majority of banks easily cleared the 5% minimum level for capital under the severely adverse scenario as well as the vaguer qualitative test the Federal Reserve Board imposes, suggesting institutions have finally gotten a handle on the process. Still, it's useful to see which banks improved from last year, as well as the few which fell toward the back of the back.
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MVB Financial in Fairmont, W.Va., has sold most of its insurance business to USI Insurance Services in Valhalla, N.Y.
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