Retail & Commercial

LegacyTexas Bank is majority-owned by the family of Carroll Shelby, who famously partnered with Ford Motor Co. to produce the Shelby Mustang muscle car. LegacyTexas has agreed to merge with another bank, but the family will remain involved.

The city of Newark, N.J., is moving forward with a foreclosure-prevention plan that could involve using the power of eminent domain to restructure underwater mortgages.

WASHINGTON — The Federal Reserve Board issued revised standards on Thursday dictating how banks should oversee service providers, including consultants.

China's central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.

Nacha says the industry wants faster processing and is “working to make it happen in a way that is a win-win for all.” The biggest banks are in no rush.

American Banker's digital news coverage took top honors at the 2013 Eddie & Ozzie Awards Thursday.

A group of First National Community Bancorp's (FNCB) current and former directors have agreed to pay $5 million to settle a shareholder lawsuit claiming that they failed to properly oversee risky practices.

There are now less than 6,900 banks in the United States, the smallest number of financial companies since the Great Depression — and bankers expect the industry to contract even more in coming years. American Banker editors discuss the stakes for community banks and why the country still needs thousands of small banks.

As consumer groups turn their attention to smaller institutions, they bring lending disparities to regulators’ attention. The regulators seem to take these issues more seriously than during bank megamergers’ heyday.

African Americans encounter unique financial strain and are harmed more than other groups from their credit card debt, according to a report from Demos and the NAACP.