Fast-tracking foreclosures on vacant properties in states that handle foreclosures through the courts "could result in substantial cost savings" for all involved, according to a study by Federal Reserve Bank of Cleveland.

Royal Financial (RYFL) in Chicago has received permission from the Federal Reserve to withdraw an April 2010 board resolution that banned the company from paying dividends, increasing debt or redeeming stock without regulatory approval.

FICO plans to release a new broad-based scoring model this summer that helps lenders analyze a consumer's credit risk with greater accuracy. This product launch will represent FICO's first changes to its scoring model in six years, said Anthony Sprauve, senior consumer credit specialist at FICO.

New innovations in data security, including chip technology, tokenization and end-to-end encryption, are adding even more technologically advanced fraud prevention tools to our nation's payments infrastructure.

The single-family rental securitization market appears to be benefiting from the improving housing market and favorable demographics, according to a Moody's Investors Service report.

First Bancshares (FBMS) in Hattiesburg, Miss., has agreed to buy BCB Holding in Mobile, Ala.

The Utah Senate approved payday lending reform on Thursday and will be sent to Gov. Gary Herbert's office for a signature.

DECA Financial Services, an Indiana consumer debt collection firm previously lauded by Inc. magazine as one of the fastest-growing U.S. companies, is now facing serious debt problems of its own.

Former Federal Reserve Vice Chairman Alan Blinder took shots at credit rating agencies and Wall Street traders this week in a public lecture at the Museum of American Finance.

Total outstanding balances of bank and retail-issued cards and home finance increased in January for the third consecutive month, the first time that has happened in more than three years, according to the latest Equifax National Consumer Credit Trends Report.

The Community Home Lenders Association is pointing to President Obama's recently released budget as proof that the Federal Housing Administration has leeway to lower premiums.

Cece Stewart, who spent three years trying to turn around Citi's U.S. retail banking operations, is retiring. In an interview, she cited account growth, productivity improvements and cross-selling of credit cards as accomplishments that offset "enormous headwinds."

Bank of America (BAC) has introduced a new checking account targeted at customers who typically maintain low balances.

The majority of Americans who will be receiving a tax refund in 2014 will spend the funds, not save them, according to a new survey released by Capital One Financial (COF).

Scott Tomlinson at Flint Community Bank used a meeting with the agency's deputy director to speak his mind on the shortcomings of mortgage regulation.

The Federal Deposit Insurance Corp. is suing four former officers and directors of a failed Baltimore bank for more than $7.4 million in damages.

Bitcoin's mysterious inventor, Satoshi Nakamoto, has apparently been discovered by Newsweek reporter, Leah McGrath Goodwin. And I'm torn.

Unity Bank, a subsidiary of Unity Bancorp Inc. (UNTY) has opened a new division that will offer a wide range of investment products and services aimed at helping customers to grow and preserve wealth.

The information that some of the nation's largest data brokers are selling to consumer lenders is riddled with inaccuracies, the National Consumer Law Center finds.

Business Partners, a credit union service organization in Northridge, Calif., has named financial services veteran Pamella Easley as its president and chief executive officer.