Banking

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.

TriStar Bank in Tennessee says a shortage of appraisers is slowing down its commercial real estate lending and raising the cost of appraisals. The claim has outraged appraisers, who argue that the bank is simply trying to avoid paying their fees.

Critics argue that Community Reinvestment Act standards need to be more transparent, but creating more objective measures would require regulators to favor some types of loans over others.

The Cleveland bank's CIO, Amy Brady, said it had to start replacing legacy systems now to position itself as a leader in the future.

The Seattle bank's improved loan yields offset higher expenses tied to Bank Secrecy Act remediation. Washington Federal had to delay a pending acquisition after issues emerged with its anti-money-laundering compliance.

The acting director wants to gut the agency, which would harm both consumers and entrepreneurs.

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

Proposal would lower capital requirements for some, raise them for others; Mulvaney says enforcement division will continue to police lending discrimination.

The information you need to start your day, from PaymentsSource and around the Web. Today: NAB's in the middle of a payments fraud probe; Russia moves to faster payments; ATM attacks on the rise; Unauthorized cryptomining is an expanding threat.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

Bank of America plans to stop lending to companies that make assault-style guns used for nonmilitary purposes.