Banking

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.

Amid their recent policy victories and record earnings, big banks have also been forced to grapple with the possibility that commercial lending — the lifeblood for large regionals — may never fully come back.

Hyperledger, an open-source organization focused on blockchain technology, has added 16 members.

Promontory MortgagePath fills management roles for bank relations, technology and outsourced services opportunities.

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

A group in North Carolina has finally gone public with its brand, and three other de novos have already been rebranded.