Banking

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by the small-business lending platform Kabbage, said people familiar with the deal.

Investors are growing worried about lackluster loan growth this year at community banks.

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms.

Loan growth and higher yields helped offset a 20% increase in expenses at the Arkansas bank in the first quarter. Meanwhile, it warned of one-time rebranding costs to come in the third quarter.

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.

Longtime payments industry executive Kim Crawford Goodman has been named president of card services at Fiserv, where she will oversee the payments and ATM services, including credit and debit processing.

The 106-year-old bank is looking to raise $90 million, with plans to use half of the funds to redeem outstanding preferred stock.

The bank says its partnership with Lender Price will help streamline and simplify its home loan process.

By reducing, or completely removing, paper-based billing through automation, your company can drastically reduce its environmental impact, writes Colleen Ciak, head of eAdoption at Billtrust.

The company will add a representative of Stilwell Group to its board. The investment firm, which has long criticized HopFed's leadership and strategy, agreed to support the company's recommendations at future annual meetings.

The announcement is an example of how Green Dot, which swung from a loss to a profit in the fourth quarter, is focusing on technology partnerships with Intuit, Uber and others to boost its bottom line.

Concerned about rising default rates, banks "significantly" tightened underwriting in the first quarter, the Bank of England said in a report published Thursday.

The government is pushing up mortgage prices to dangerous levels by easing credit standards in a market where supply is low but demand is high.

Dominic Venturo, chief innovation officer at U.S. Bank, shares his vision for digital banking ten years from now. It includes ambient computing – interconnected devices, machines and sensors that are sensitive and responsive to the presence of people.

The Kansas City, Mo., company also benefited from higher yields on its loans and flat funding costs.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amex launches a branding campaign; Uber links to mass transit; Taiwan regulates crypto; Long Blockchain faces delisting; Is more data more important than faster payments?

Acting director wants agency run by a bipartisan body, not a lone director; Fed and OCC push for relaxing the supplementary leverage ratio at the biggest banks.

The consumer lender Oportun is rolling out a product designed to combat overdraft fees.

Beach Community Bank in Fort Walton Beach will be sold for $100 million once its holding company goes through bankruptcy, according to a local news report citing the bank.

A plan to bring in banks was created right after last summer’s hurricane devastation, but the magnitude of those storms, government dawdling on the issue and lenders’ reluctance to participate are key reasons zero loans have been made under the program.