Banking

One of the nation's biggest prepaid card issuers said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.

They are called HENRYs — high earners, not rich yet — and they have the potential to generate lucrative wealth-management and other fees for banks if they could just dial back their spending.

MemoryBank, a new digital-only bank unit of Republic Bank & Trust, aims to serve the sweet spot of customers who are digitally savvy but also have money.

Five banks in Kansas are putting together plans to share a compliance officer. While the move should save money, the banks are fully aware of the risks involved with the potential collaboration.

The Office of the Comptroller of the Currency is expanding efforts to encourage the development of new banking products, announcing Wednesday that it will establish an office of innovation to spearhead research and communication related to fintech.

Prosperity Bancshares' profit took a hit in the third quarter from lower yields on loans and higher expenses.

UMB Financial in Kansas City, Mo., has made changes to incentive compensation for its branch employees.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.

A Florida man with ties to an illegal Bitcoin exchange that was allegedly used by hackers who targeted companies including JPMorgan Chase & Co. is scheduled to plead guilty to undisclosed charges Thursday.

Higher mortgage banking revenue and commercial real estate lending offset merger costs at United Community Banks in Blairsville, Ga., leading to an improvement in third-quarter profit.

UBS is piloting a program with Alexa, Amazon's chatbot. Clients won't be able to ask Alexa about their portfolios yet, but they can ask questions about the economy.

Valley National Bancorp in Wayne, N.J., had stronger quarterly profit that reflected improved revenue.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Apple Pay's major adoption; Walmart's big transfer expansion; vendors' mobile loyalty push; a breach in Denmark.

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

UMB Financial in Kansas City, Mo., reported higher quarterly profit as it continues to makes progress on a multi-year effort to slash expenses.

CEO Tim Sloan said senior executives made a series of mistakes in response to the phony account scandal, including placing too much of the blame on branch employees.

WASHINGTON – The Treasury Department’s Financial Crimes Enforcement Network issued a reminder to banks that their obligations to report suspicious transactions also extend to certain cybersecurity attacks.

The $13 billion-asset company said in a press release Tuesday that its third-quarter earnings rose 9.5% from a year earlier to $31 million, or 46 cents a share.

Costs associated with a customer refund reserve in the United Kingdom contributed to a decline in Capital One Financial's third-quarter profit.

Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card issuer still managed to report bigger profits.