The Latest

Suffolk Bancorp in Riverhead, N.Y., has hired Fiserv as core processor and it plans to record a $1.4 million charge to cover the vendor switch.

Fannie Mae and Freddie Mac are telling lenders that they are willing to retain loans with defects if they believe the defects are minor and can be fixed. But Freddie is one-upping Fannie by offering to retain such loans without charging lenders a fee.

Valve Corp. has agreed to work with UOL BoaCompra to accept payment on its online gaming platform, Steam, in Colombia and Peru.

BankMobile attracted 100,000 users in its first year and with the acquisition of a couple of business lines from collegiate servicer Higher One it is projecting it will have 2 million by July.

American Banker predicted these five community bankers would make news in 2015, and they did not disappoint. Some pursued M&A, one went public, and one even helped break up his bank.

Wilmington,Del-based The Bancorp Bank has agreed to pay $4.3 million on charges brought by the Federal Deposit Insurance Corp. that the prepaid card issuer deceived consumers.

We revisit some of the best comments readers posted in 2015. Comments are excerpted from reader response sections of AmericanBanker.com and BankThink.com articles, except where noted.

WASHINGTON — The Bancorp Bank in Wilmington, Del., has agreed to pay $4.3 million on charges brought by the Federal Deposit Insurance Corp. that the prepaid card issuer deceived consumers.

The Treasury Department took a step forward Wednesday toward finalizing a highly anticipated customer due diligence rule that is expected to cost financial institutions and their customers between $700 million and $1.5 billion over the next 10 years.

Participants in an alleged credit card laundering scheme have agreed to settle Federal Trade Commission charges that they illegally helped provide access to payment networks, thereby enabling scammers to place bogus charges on consumers’ credit cards.