Banking

Kathy Thorson, who is currently a market president at MetaBank, will oversee strategy for all of its four markets.

The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship.

Most lenders are staying the credit bureau course in underwriting but some are mulling changes, particularly when it comes to marketing.

The revisions – approved by a May 30 notation vote – could ease the burden for credit unions approaching the MBL cap.

The agency’s recent bulletin could help banks get back into the small-dollar lending business, keeping needy borrowers out of debt traps. But other regulatory limits remain in focus.

The company agreed to pay $32 million for Mercersburg Financial.

The banker made $140,000 in illegal trading profits; the German bank faces Fed stress test and “living will” examination soon.

Organizers of CommerceOne Bank are one step closer to a planned opening this summer.

The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal makes another investment; Open Payments Cloud picks up support; Crypto firm hires Square's former compliance officer; Mastercard hires a cybercrime expert.

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

Many of these attacks have been server side ransomware and other sophisticated hacks, leading companies to examine the immature security processes, the technology of application security, and the insufficient expertise of development, writes Jeannie Warner, the security manager at WhiteHat Security.

Readers react to acting Consumer Financial Protection Bureau Director Mick Mulvaney easing mortgage reporting requirements, opine on facial recognition systems, weigh in on Wells Fargo’s attempts to change its culture and more.

Dark clouds may not yet be on the horizon, but industry executives are sending the message to investors that they know a turn in the credit cycle is coming, and they are planning accordingly.

County Bancorp in Manitowoc, Wis., posted record profits in the first quarter after completing an acquisition last year.

Fulton Financial, Univest Corp. of Pennsylvania and Franklin Financial Services disclosed a total of $75 million in exposure to the commercial relationship.

The $142-billion asset bank expects to deepen relationships with existing customers and add new ones, by collaborating with Intellect Global Transaction Banking to develop new services.