Banking

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.

Amber Baldet is exiting JPMorgan Chase to start her own venture, and another female executive is taking charge of the blockchain effort. BofA makes major progress on digital mortgages and gets gun-shy after Parkland. Plus, GM’s one-sentence dress code.

Banks have been hanging on to problem loans for various reasons, but that could create headaches when credit inevitably worsens.

The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.

Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

Record loan originations and strong growth in wealth assets under management more than offset a double-digit increase in expenses at the San Francisco company.

The small Illinois-based credit union credited better disaster-prevention strategies as one reason for the core conversion.