The Latest

Citigroup failed one of the monitoring tests performed as part of the national mortgage settlement, according to new reports filed by NMS monitor Joseph Smith A. Jr.

Nearly a third of U.S. smartphone users owned or planned to purchase a wearable device in the next 12 months. Among this group, 82% wanted them to enhance their in-store experience and 22% specifically wanted them to provide touchless, one-click payments. The bottom line: financial services companies have a lot of work ahead to meet consumer expectations.

In an effort to appeal to more businesses by helping them manage their employees, Square has launched Square Payroll.

Meta Financial Group in Sioux Falls, S.D., parent of MetaBank and Meta Payment Systems, is raising capital to fuel a future acquisition, and has renewed a significant prepaid card issuing relationship with NetSpend.

Even if the U.S. government eases enforcement against banks processing wire transfers to developing countries, lawsuits brought by the plaintiffs' bar under the Anti-Terrorism Act may make banks continue to avoid providing remittance services to needy communities.

Alabama One CU file suit against the state regulator and other state officials alleging a conspiracy against the $613 million credit union.

Hanmi Financial in Los Angeles has a new look for its retail bank.

Marketplace lending represents a new subset of competitors for credit unions. As investment dollars flood into the alternative lending sector, fueling the rapid growth of early entrants such as Lending Club, lots of smaller online loan platforms are also popping up. Many of these new firms are specializing in narrow lending niches, touting their expertise in underwriting particular forms of credit. Here’s a rundown of some of these specialties.

Total mortgage origination balances hit $466 billion in the first quarter, a 74.4% increase from the same time a year ago, according to the latest Equifax National Consumer Credit Trends Report.

Equal-opportunity small business lending can go a long way toward helping minority groups rebuild the wealth lost during the Great Recession. The CFPB has delayed implementing reporting requirements that could close the credit gap for far too long.