Banking

Quaint Oak in Pennsylvania is making a big push in real estate brokerage, a business that many state-chartered banks might think is illegal for them to pursue.

The first compliance deadline fell last week for the state’s strict new regulation. Banks are struggling with certain elements, such as multifactor authentication.

“You can’t serve the public if your employees are shellshocked,” said one top banker, comments echoed by other institutions dealing with the aftermath of Hurricane Harvey.

The days of having an employee who happily works at the drive-through window for 30 years are over. So what’s a bank to do about its branch staff now? Bank of Tennessee has some ideas that it expects will appeal to millennials.

Snap Finance provides credit at the point of sale, primarily to consumers with bad credit.

In a deregulatory environment, a rule that better enables consumers to bring class actions could lead to an explosion of litigation, which will affect product availability and pricing.

On Jun. 30, 2017. Dollars in thousands.

Nothing like revelations of a client’s Ponzi scheme that lead to your bank paying $4 million in anti-money-laundering fines. That’s what happened at Gibraltar Private Bank & Trust, but its CEO argues its compliance overhaul has given the bank a competitive advantage in cosmopolitan New York and South Florida.

On Jun. 30, 2017. Dollars in thousands.

The agency awarded grants in three areas: digital security, leadership development and technology aimed at enhancing a CU's capacity to serve the underserved.

CFPB director gives political speech but avoids saying if he will run for governor in Ohio; Treasury is looking into getting rid of the "too big to fail" label.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: China KFC intros "smile" pay; Nacha shifts execs; Paconiq moves to Amsterdam; Fiserv closes Monitise deal.

Karen Mills, former head of the Small Business Administration, says the glut of online lenders could help entrepreneurs obtain funds quickly.

Brent Cockerham of Moody National Bank ferried stranded residents to safety in Friendswood, Texas, one of the communities hit hardest by the storm.

It sounds like a crazy mix, but Fifth Third says its new app would help young consumers round up debit card purchases and apply the money to their burdensome student debts. The motivation to attract millennials is clear, but will it work?

William Tirrell, the former head of regulatory reporting at the bank's Merrill Lynch unit, negligently caused the firm to violate securities rules but will pay no penalty, the SEC says.

The new owner of this Miami bank might be from Chile, but it sure knew how to create warm feelings with the employees it acquired. Instead of cutting back on benefits, it added some new ones — including a cash bonus paid for life events like having a child.

The Wisconsin company plans to shutter half of Bank Mutual's branches, including seven in Milwaukee.

Financial education, life-changing experiences and other ways credit unions are making a difference in the lives of children.

The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.