Retail & Commercial

California lawmakers are considering a bill that could potentially cripple profits for payday lenders in the nation's largest state.

While some call Bitcoin an "existential threat to the state," local governments could soon embrace the digital currency and payment system as a practical alternative to credit and debit cards.

Community banks spent $250 million and more than 8 million hours on regulation implemented during the first quarter, a recent study found.

Tompkins Financial (TMP) in Ithaca, N.Y., has hired an executive from National Penn Bancshares (NPBC) to run its bank in southeast Pennsylvania.

Alioth, which sells government and payment cards in Russia, is teaming with NXP Semiconductors to launch a multi-functional card that combines payments with a range of other uses.

Fiserv is changing the name of its ACCEL/Exchange payments network to Accel, a move that draws attention to Fiserv's technology as the company competes against rivals such as Fidelity National Information Services and develops new emerging payments technology.

Strong fee income and rising stock markets lifted Northern Trust (NTRS) in the first quarter. Earnings at the nation's third-largest custody bank rose 2% from the same period a year earlier, to $164 million.

Quarterly profit fell at Westamerica Bancorp. (WABC) in San Rafael, Calif., as interest and fee income declined.

Bank of the West's Andy Harmening says there needs to be more conversation to determine the future of the big banks and whether they should be broken up. Harmening, a senior executive vice president and regional banking group head, spoke to American Banker at the annual Best Practices in Retail Banking Symposium.

WASHINGTON — The Consumer Financial Protection Bureau has proposed slight tweaks to help clarify mortgage rules first issued in January.