Retail & Commercial

Competition for deposits is heating up as summer approaches, and banks are responding in all sorts of ways — from launching digital-only platforms to raising CD rates to reviving debit rewards. But rising interest rates could weaken demand for loans, especially mortgages.

The Indiana bank would add nearly $100 million in deposits with its purchase of FM Bancorp.

The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity.

Rising technology expense and security challenges will require institutions and ATM operators to get more creative in managing resources, such as finding new uses for discarded machines, according to Mark D. Smith, director of business development for MVP Financial Equipment.

A fintech that has grabbed a sizable chunk of the Australian digital payments market has made some quick merchant scores for its American launch.

The CFPB ordered Security Group Inc. to pay $5 million for making illegal threats, including that consumers could go to jail.

In his inaugural hearing as comptroller of the currency, Joseph Otting defended his decision not to publicly rebuke banks for Wells Fargo-like problems.

The agency will have to rework its strategy for amending its payday lending rule after a federal court rebuffed efforts to stop the rule from going into effect.

Despite strong growth in the auto sector, credit unions continue to push to get members who join via indirect auto lending to add products and services, and fully engage with the CU.

Royal Bank of Canada introduced a wave of technology initiatives in a bid to attract more tech-savvy customers who embrace a digital lifestyle.