Banking

The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement.

United Community Banks in Georgia tried hiring Lynn Harton in 2006, but he took another job. They kept in touch, and he's now poised to become the company's CEO.

Marlin will originate and sell equipment loans and leases to Varadero Capital in a move that will provide the lender with a new source of funding.

First International Bank plans to rename the company Kotapay, while expanding services that include handling direct deposit and credit card processing for financial firms.

While the banking industry is divided on the use of conversational technology, the San Francisco company believes chatbots can make it easier for customers to discuss their finances.

David Kemper is set to hand the reins over to his son, John, this summer.

The Treasury's recommendations come as federal bank regulators have indicated they will soon release a proposal to reform Community Reinvestment Act policy.

Rob Paterson didn't seem to fit the script of a go-to banker for the pot industry — he barely drank and hadn't smoked a joint since his university days. But three years since taking on his first marijuana customer, that's just what the CEO of Alterna Savings & Credit Union has become.

A broad network of financial data, such as utility payments and direct deposits, could help those without established credit histories better obtain loans. It might also help lenders make more accurate underwriting predictions.

The information you need to start your day, from PaymentsSource and around the Web. Today: Panera's data leak; Google cracks down on cryptomining; Seoul plans its own cryptocurrency; People fear the Equifax breach; Amazon expands voice donations.

The agency would be subject to congressional and White House oversight; American customers will be able to send money to 200 countries.

The state’s banking regulator said that the online consumer lender made over 46,000 small loans to Bay State consumers without a license. The company surrendered its license to the state regulator as part of a 2011 consent order.

The software firm MonetaGo and three Indian factoring exchanges have launched a blockchain that can identify invoices that have already been financed.

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

The Atlanta company partners with banks and merchants to offer consumer installment loans. It could seek to raise as $1 billion as early as this summer, according to a published report.

Jimmy Tallent, who will become the Georgia company's executive chairman, will be succeeded by Lynn Harton.

Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are.

If the National Credit Union Administration appeals a judge's decision against part of its rule, it could help the ABA potentially upend other provisions.

As part of a larger regulatory relief effort, regulators have raised the dollar-amount threshold for commercial real estate transactions that require a formal appraisal.