The Latest

Zions Bancorp. in Salt Lake City has sold its remaining collateralized debt obligations.

NCUA and AARP will host an online presentation for consumers and credit unions on how to prevent elder financial abuse.

Ecobank Transnational Inc. and MasterCard have agreed to promote electronic payments throughout Central and West Africa, accelerating use of payment cards for consumers and mobile card readers for merchants.

Azimo, a mobile remittance startup out of London, has raised $20 million from investors at Frog Capital, MCI Investments, Greycroft Partners and e.ventures, according to a report in TechCrunch.

China UnionPay Co. acquired a stake in Hong Kong's Joint Electronic Teller Services Ltd. as the bank-card payments processor seeks a greater presence outside the mainland.

Mechanics Bank in Walnut Creek, Calif., shook up its top leadership post following its sale to a Dallas investment group.

WASHINGTON — The Federal Deposit Insurance Corp. unveiled a proposal Tuesday that would change the calculus used in determining assessment fees for small banks, resulting in most of those institutions paying less in premiums.

While marketplace lenders like LendingClub and Prosper are at the cutting edge of innovation for now, banks may gain ground eventually. Either way, the competition greatly benefits the expanding pool of borrowers who will have greater access to credit.

First Data likens its new Clover Mini payment terminal to Apple's product line: it's a device made to fill a niche that everyone else thought was already being served.

The decline in foreclosures and short sales is one of the best signs of how much progress the housing recovery has made. But it's also contributing to a dearth of housing inventory that's constricting the market.