Retail & Commercial

Big banks are ceding more of the consumer market to small banks, says John Romano, the new No. 2 executive at Amalgamated Bank in New York.

BOISE, Idaho – A Las Vegas man was indicted by a federal grand jury yesterday on charges of stealing three ATMs holding more than $56,000 from local college campuses, including two owned by Idaho State University FCU.

Wells Fargo's mortgage unit is terminating a joint venture with investment firm Edward Jones and closing an office in the Minneapolis area.

Growth is hard to come by in the credit card business, but major lenders are sticking with a smaller pool of customers with higher credit scores.

QCR will pay roughly $20.1 million in cash and stock for the $290 million-asset Community National. The consideration is 70% stock and 30% cash. The companies expect to complete the deal in the second quarter.

The oft-mischaracterized HUD disparate impact rule will discourage any race-based decision making and minimize lawsuits. Why would any mortgage lender want to continue a practice with a discriminatory effect but no business objective?

PayPal has attracted some big names to accept it at the point of sale, but it has a long way to go before its digital wallet is a part of everyday consumer life. A recent partnership with the fuel pump technology company Gilbarco Veeder-Root has the potential to change that.

Merchant service providers need to be aware that payment gateway technology is likely to provide answers to most of the questions merchants may ask when navigating the dizzying array of new payment rules and technologies.

While the U.S. inches toward adoption of the EMV chip-card standard, some card makers and issuers are finding they need to move faster than others.

Nigel Morris, who co-founded Capital One and is now with an investment firm, has become chairman of the alternative lender borro.