Retail & Commercial

Sierra Vista in Folsom, Calif., is the kind of bank typically marked for extinction. But it has raised enough equity to try to make itself into a buyer, or a more appealing takeover target.

Smartphone capabilities, like instant Internet access, integrated cameras and GPS systems, have given consumers more control over their banking relationship and are forcing financial institutions to adapt.

In a surprise move, the Federal Housing Administration's Acting Commissioner Carol Galante sent a letter to the Tennessee senator agreeing to make major policy changes, including ending a popular reverse mortgage program for seniors.

The Consumer Financial Protection Bureau said Wednesday that it is looking for input on how it should craft future proposals establishing new rules for credit cards.

Voltage Security, an encryption vendor, is touting Voltage Secure Stateless Tokenization technology, which the company says provides merchants and payment processors with a new approach to protecting card data.

Banks have the wherewithal to weather a drop in earnings that a recession sparked by a plunge off the fiscal cliff could produce, Moody's wrote in an analysis published Monday.

Six months after settling a legal battle with Capital One, John Kanas is eager to start hiring employees and opening branches in the Big Apple.

Mortgage applications fell last week after interest rates edged up and consumers dialed back on refinancing.

American Express continues its move into a payments arena not often associated with the affluent customers served through the New York-based card network. It now accepts Amex card payments at gas stations commonly located in parking lots near Walmart stores.

The Electronic Transactions Association is remaining true to its original constituents in the acquiring business, even as it opens the doors to other types of companies, according to the trade group’s CEO.