Banking

The company also said it is likely that tax reform legislation being considered by Congress would substantially reduce the valuation of its deferred-tax asset.

The company, which had recently expressed confidence that the issue would be resolved, agreed last month to buy a bank in Florida.

Lenders on the fringe of the financial industry are now pitching a solution to bitcoin investors in need of funds but wary of cashing in: loans using a digital hoard as collateral.

The holding company structure makes sense for large banks with complex business models and small banks looking to bulk up through acquisitions. But for a large swath of banks in the middle, the benefits are harder to spot.

On Sep. 30, 2017. Dollars in thousands.

On Sep. 30, 2017. Dollars in thousands.

A bull market and investor appetite for bank stocks are spurring more mutuals to consider partial conversions.

The move will impact more than 800 credit unions.

Maria Zuber, who oversees research administration and policy at MIT, has been appointed to the board's enterprise risk and corporate governance committees.

Some firms are investing in technology to help insurance clients shift to paperless payment processing.

The Federal Deposit Insurance Corp. has forged a pact with the European Union-based entity that handles failed-bank cleanups to share information and collaborate on planning for cross-border resolutions.

Ken Veccione, who rejoined the Arizona company earlier this year, is set to succeed Sarver.

Departing central bank chief says colleagues are committed to strict bank regulation; marketplace lending not living up to promises as delinquencies continue to rise.

The information you need to start your day, from PaymentsSource and around the Web: Patreon cancels new fee policy; Coinbase's board adds David Marcus; Mobile pay does the laundry; Japanese company allows bitcoin salaries; Banks team for sustainable supply chains.

Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.

Financial technology companies are reinventing every aspect of business finance, starting with payments. Banks have long promised to automate supplier payments for their customers, but have fallen far short, writes Brent Meyers, vice president of national sales for Nvoicepay.

In a year of political upheaval and weak commercial credit growth, lenders sought to capitalize on an economic bright spot — consumer spending — by reviving the personal loan, allying with fintechs and exiting traditional business lines that no longer made sense.

The latest data from the federal regulator reveals positive gains across a variety of metrics, but industry consolidation continues as small CUs struggle to grow.

The Fed’s rate hike on Tuesday will raise bank's funding costs, serving as a stark reminder that a return to strong, broad-based business loan demand can’t come soon enough.

Covault has begun offering a digital identification and virtual safe deposit box service to banks and others. Similar efforts have failed before, but its backers say mobile apps and the cloud have made the service more practical.