Banking

The Los Angeles company said earnings fell 2% in the quarter as strong loan growth was offset by costs tied to its acquisition of CU Bancorp as well as a loss on the sale of a securities portfolio.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The credit union service organization gained 11 new member-owners in 2017, bringing total ownership to 50 CUs.

The Arkansas company's earnings fell 52% from a year earlier, reflecting a higher provision, a revaluation of its deferred tax asset and higher costs following a series of bank acquisitions.

Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

The Buffalo-based company donated a record $50 million to its charitable foundation to honor its former CEO Robert Wilmers, who passed away in late 2017.

The bank’s innovation unit hopes some of the students it takes in from 12 universities including Columbia, NYU and Texas will end up working at Citi someday or creating startups it can partner with.

U2 lead singer Bono is among the latest to support the ambitious mobile-only fintech startup, which applied for a national bank charter in July.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa won't support cryptocurrency payments; Blockstream extends virtual currency tech; EMV advances in Ghana; Blockchain becomes art.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.

A large writedown on its portfolio of taxi medallion loans marred an otherwise strong fourth quarter for Signature Bank in New York.

The anxiety that a crook is using a lost or stolen card can be a powerful lure to mobile technology, Citigroup has learned.

The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.

The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.

The San Francisco bank said that Michael Loughlin's departure is unrelated to the sales scandal that has dogged the company for the last 16 months.

The Federal Reserve’s beige book survey indicates the economy is expanding as household loan demand declines.

The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.

Kevin Lycklama is set to succeed Patrick Sheaffer, who has led the company since 1976.