The Latest

Arkansas Attorney General Leslie Rutledge’s office said the state has won a $194,500 default judgment against a company that failed to respond to a federal lawsuit alleging violations of consumer protection laws.

Comerica has named Peter Sefzik market president for Texas, effective immediately. Sefzik succeeded Patrick Faubion, who was promoted to executive vice president of Comerica's Business Bank in July.

The Automated Clearing House is too expensive and complex to provide faster payments for smaller banks and businesses, claims Dwolla, which contends its open system is a better option for those market segments.

While credit unions have always catered to a wide variety of employee and community groups, among the most unusual may be the Amish and Mennonites. Credit Union Journal spoke to three institutions in this marketplace to get a better picture of what it's like to work with these largely isolated faith-based communities.

U.S. banking earnings in the second quarter rose 7.3% from a year earlier to $43 billion as institutions enjoyed higher revenues and lower noninterest expenses, the Federal Deposit Insurance Corp. said Wednesday.

Minorities receive surprisingly few small-business loans, high-level employment promotions and business contract opportunities. The federal government can help remedy the situation by collected detailed data on these matters from financial institutions.

Citigroup has agreed to sell its consumer banking business in Hungary to Erste Group Bank of Austria.

The Credit Union Journal's recent coverage of the Cooperative Credit Union Association's letter to the NCUA Board urging NCUA to begin a dialogue on returning to an 18-month exam cycle for well-run credit unions has spurred a lot of discussion in the marketplace.

Volcker Rule Puts Leash on Banks; FHA's Peace Offering

FS Bancorp in Mountlake Terrace, Wash., has agreed to buy four branches in Washington from Bank of America in Charlotte, N.C.