Banking

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.

Executives and directors from across the industry discussed their concerns for the industry and priorities for the next year during this year's NAFCU and CUNA annual conferences.

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration.

Banks are increasingly turning to outsiders like Nikki Katz, a former Disney executive now at Bank of America, and Joel Kashuba, formerly of Procter & Gamble and now at Fifth Third, to help build their digital experiences.

While global banks have been pouring money into information technology — to the tune of $1 trillion over three years — only a handful appear to be fully committed to a digital transformation and are therefore reaping the benefits, according to an Accenture study.

New York lawmakers took steps to prevent predatory lenders from using the state's court system to seize the assets of small businesses nationwide.

All of the Seattle company's directors, including CEO Mark Mason, were backed by shareholders despite a challenge by Blue Lion Partners.

Credit unions reported gains in areas such as loan balances and membership but it was at a slower pace than a year earlier.

Public-sector development of a speedier settlement service, to operate alongside the one being developed by The Clearing House, is crucial for seeing that institutions of all sizes are able to take advantage of this technology.

Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank.

If Libra becomes a major financial force, the stability of global finance is on the line.

The bank believes its U.S. unit will pass this year’s stress test but Fed restrictions will stay; COO is the second member of CEO’s inner circle to leave.

The information you need to start your day, from PaymentsSource and around the Web. Today: Alexa adds parking; Flywire adds education pay collaboration; Celero makes two deals; Google bolsters merchant rewards.

On Dec. 31, 2018. Dollars in thousands.

Facebook’s Libra shows technology companies are a far greater threat to a bank than other banks, argues Token.io’s Marten Nelson.

Community bankers want to cut the time it takes for customers to establish digital accounts to mere minutes, but it's hard to do that and make other improvements without increasing fraud risk.

The House passed a spending bill amendment aimed at providing further clarity to banks looking to provide services to cannabis businesses.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

Whether it’s applying for a loan through a mobile app or building an investment portfolio via robo adviser, users want to know they can quickly and easily speak to a human being if they run into problems, top executives said at American Banker’s Digital Banking conference this week.

The Michigan-based CUSO has acquired a stake in NestReady, giving it exclusive industry rights on the mortgage technology firm's products.