Banking

Barclays has been gauging clients' interest in the British bank starting a cryptocurrency trading desk, potentially joining Goldman Sachs in pioneering a new business on Wall Street, according to people with knowledge of the matter.

Michelle Bowman, a former community banker and now the Kansas banking commissioner, was one of two Federal Reserve Board nominees announced by the White House on Monday. President Trump also nominated Columbia University Richard Clarida as vice chair.

Previously the head of commercial banking, Tory Nixon — also a former NFL cornerback — will now oversee the bank's digital strategy.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

New Resource Bank and P2Bi are splitting the risk and revenue associated with asset-based loans.

Gary Shook, who led Middleburg Financial before its sale to Access National, has become president of Blue Ridge's bank.

Many large internationally active U.S. banks are facing potentially hefty fines if they fail to comply with Europe's General Data Protection Regulation, which takes effect May 25 and gives consumers much more control over how their data is gathered, used and shared.

The addition of a personal finance app rounds out the loan and deposit-account offerings at the online lender Marcus.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs.

Bank’s earnings report notes possible $1 billion in fines; loan-loss accounting rule will be rolled out over three years.

The information you need to start your day, from PaymentsSource and around the Web. Today: Australian banks oppose open banking; Louisiana town plots its own currency; No more FOMO for bitcoin; Russia plans its own mobile payment system.

Bank of America Corp. hit a milestone in its years-long effort to get costs under control.

Financial institutions in the U.S. are not only under tremendous pressure to determine how they’ll become a part of the new Federal Reserve-driven faster payments ecosystem, but also what the shift to immediacy will mean to their current operating model, long-term strategy, and future relevance to consumers and corporates, writes Bruce Lowthers, COO at FIS.

Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees.

The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries.

Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans.

The bank, which already offers mortgages through seven offices across North Carolina, is the fourth group to announce plans for a de novo in the state.

Banks should rethink even existing services, such as the branch experience, said top executives at the Oracle Industry Connect conference.

A 28% increase in lease assets helped offset stagnant growth in traditional auto lending.