Banking

Rebeca Romero Rainey, while known as compassionate banker and less of a firebrand than her predecessor at the trade group, will take firm stands for small banks on reg relief, innovation and fair play, say those who know her.

In the joint report with the Federal Trade Commission on debt collection practices, the CFPB said it had initiated four enforcement actions last year, had resolved one case and has five others pending.

Employees at the second-largest Indian bank falsified documents in a scheme that ultimately cost the institution at least $2 billion. Some argue a distributed ledger would have helped prevent or minimize the fraud.

Trump Bay Street, a New Jersey luxury apartment tower part-owned by Kushner Cos., received a $200 million loan from Citigroup, according to two people familiar with the deal.

The Federal Reserve raised interest rates by a quarter-point at its Wednesday meeting and more increases are expected this year. Here's what credit unions need to know to be prepared.

FIs say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.

The company will also sell $58 million in deposits to West Gate Bank.

The Alabama company will enter Sarasota, Fla., after buying Premier for $52 million.

GOP senators push House colleagues not to change Dodd-Frank rollback bill; agencies respond to consumer complaints about debt collectors.

The information you need to start your day, from PaymentsSource and around the Web. Today: Russia helped develop Venezuela's state cryptocurrency; Google makes it easier to pay for news subscriptions; Amazon adds security to its home delivery service; Expedia's hack hits Amex.

Fifth Third and First Republic are among the investors in the company’s $50 million equity round.

Ancora Advisors will place a representative on MutualFirst's board in exchange for supporting the company's director nominees and other policies.

The $6 million acquisition will add four businesses with a total of $700 million in assets under management.

Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.

A growing number of fintechs are finding ways to cater their offerings to credit union members, including one co-founded by a former credit union CEO.

More buyers, spurred by increased lending and an improved economy, are pursuing deals for banks with an abundance of cheap deposits.

One fintech has a new twist on gamification — tie savings contributions to achievement in the most popular games.

The credit union is being sued by a member who claims the CU improperly charged him overdraft fees based on his available balance rather than his actual balance, thus triggering additional NSF charges.

In an update on the Deposit Insurance Fund, FDIC staff said the fund's ratio of reserves to estimated deposits will likely reach the required 1.35% level by the second half of 2018.

Bank of America is offloading some margin loans after losing $292 million on soured credit to the former chairman of Steinhoff International Holdings, according to people with knowledge of the matter.