Retail & Commercial

Bank of America (BAC) rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.

EUGENE, Ore. – Fast-growing Northwest Community CU will break ground Monday on a new 67,000-square-foot headquarters, which will provide one-third more space than its current offices.

To keep costs down, insurers are exercising their right under the Affordable Care Act to insist consumers pay their premiums via automatic bank withdrawal. The Department of Health and Human Services is scrambling to make insurers accept plastic.

Ocwen's agreement to buy $78 billion in mortgage servicing rights from OneWest is part of a string of deals by it and other nonbanks meant to wring value from remnants of the mortgage meltdown that many banks seek to unload.

A recap of the informed opinions (and the discussions they generated) on BankThink and AmericanBanker.com this week.

Rough calculations reveal that the Greensboro, N.C., company could be pledging nearly $2 million in tangible common equity to back Security Savings' assets.

Square has completed a major overhaul of the cloud-based Square Wallet, which allows consumers to make purchases from a linked payment card by "checking in" at a Square merchant. Here are some of the key differences in the new Wallet app.

A growing number of multibank holding companies have decided that cutting costs is more important than having a local face in certain communities.

Straightening out bad actors is fine, but it won’t resolve the inconsistencies and consumer confusion about overdraft protection cited by the Consumer Financial Protection Bureau.

Bankers defended force-placed insurance practices and dodged questions about alleged industry kickbacks and price gouging at a private but well-attended meeting hosted by the Federal Housing Finance Agency.