The operators of a massive mobile cramming scheme will surrender more than $10 million in assets to settle Federal Trade Commission charges.

The Chicago Federal Home Loan Bank reaches agreement with Redwood Trust so member institutions can sell loans to the private-label issuer.

DBA International voiced support for the federal enforcement action against the owner of Florida-based debt buyer United Credit Recovery.

A home builder that offers home financing has settled FTC charges that it deceived consumers by advertising low-cost mortgages while hiding fees and not disclosing critical information.

Green Dot (GDOT) said Thursday that it has hired a PayPal executive to become general manager of its mobile bank account, known as GoBank.

Luvleen Sidhu has been hired by her father -- Jay Sidhu, the head of Customers Bancorp -- to do something a lot of small banks would be afraid to tackle: develop Customers' own mobile banking software.

Since the recession, banks have gradually reinvested more and more of their liquidity in securities. A handful have taken this trend to the extreme, putting nearly all of their deposits into investments and lending almost nothing. While delivering consistent, low-risk profits, the model faces pressure from regulators and the economy.

Legislation aimed at allowing student loan borrowers to refinance their debt died in the Senate on Wednesday after it failed to get the required 60 votes needed to advance the bill.

The Ohio Supreme Court on Wednesday ruled that the state's payday lenders can keep making the short-term loans, reversing a judgment from the Ninth District (Ohio) Court of Appeals.

First National (FXNC) in Strasburg, Va., has formed a mortgage division.

Harwood Feffer promised to investigate claims against First Citizens Banc Corp in Ohio for agreeing to sell itself. The problem? The law firm should have been targeting First Citizens Bancorp. in South Carolina.

A down payment remains a high hurdle for consumers seeking mortgages. Lowering this hurdle increasingly seems in line with industry and regulatory goals-assuming borrowers don't default. There's the rub.

A lawsuit filed by marijuana activists in Denver District Court claims that collecting pot taxes violates the Fifth Amendment of the U.S. Constitution.

Licensed money services business AstroPay is launching Ripple LatAm, connecting the Latin American market with the digital currency payment provider Ripple Labs' network partners and gateways in North America, Europe and Asia.

Tax compliance provider Avalara has made many connections within the payments industry to respond to merchant demand for built-in tax reporting functions at the point of sale.

Sun Bancorp (SNBC) in Mount Laurel, N.J., has hired three industry veterans to expand its commercial lending in New Jersey.

JPMorgan Chase is sticking with its projections of 5% loan growth this year because of positive signs in auto, credit card, CRE and other categories, an official said. Next year may see similar improvement.

The Holding family has held large stakes in several banks for years; two of those banks are finally merging as part of a $637 million deal.

LenderLive Network is expanding its correspondent lending channel by offering to buy jumbo mortgages from members of the Independent Community Bankers of America.

Upbeat comments from executives at Capital One and Discover are backed up by new data on card spending and loan growth.