Retail & Commercial

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

The U.S. Supreme Court on Monday allowed a class-action lawsuit against Encore Capital Group Inc. to proceed, declining to hear the debt-buying giant's claim that such companies should be protected from state laws barring money-lending at unreasonably high interest rates.

Synovus Financial struggled along with its customers during the financial crisis. Now that it's healthy again, it credits the strong ties it built with those customers, and the involvement of its executives in the communities they serve, with helping restore its status as one of banking's most reputable brands.

WASHINGTON — Community banks and credit unions would be forced to stop making short-term, small dollar loans if the Consumer Financial Protection Bureau's payday lending proposal is adopted, two trade groups said Monday.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.

Bay Bancorp in Columbia, Md., has named one of its largest investors, Steven Hovde, to its board.

Kroger is suing Visa, alleging the network threatened to raise fees and cut off the supermarket chain from accepting its debit cards.

Embattled prepaid card issuer Green Dot has officially split the roles of chairman and chief executive by naming a longtime payments industry executive as its new chairman.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

Citizens Bank's largely millennial student loan applicants were not responding to email and phone communications. So it created a messaging service that mimics the social media they know and love.