Banking

The Federal Reserve is asking the payments industry for input on securing faster payments processing.

Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.

Consumer Financial Protection Bureau Director Richard Cordray has revived an ongoing dispute between banks and fintech firms over screen scraping, a method certain companies use to obtain access to consumer bank records.

The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the alarm about deteriorating underwriting standards.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

"I'm both," could be the answer a mobile customer of USAA and perhaps other financial institutions gets in the not-too-distant future from a virtual assistant powered by artificial intelligence, key nuggets of customer-specific data and other technology.

Heartland Financial USA in Dubuque, Iowa, has named Jack Lloyd president of its residential mortgage business.

The Consumer Financial Protection Bureau will require underperforming servicers to document the technology and process changes they're making to implement the agency's recently released servicing regulations.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. today: PayPal and Facebook deepen their collaboration; virtual assistants take off; U.K. fades as a fintech power.

Neither bank regulators nor banks' risk managers can afford to wait until rating agencies downgrade Deutsche before understanding the level of exposure they have to the German bank giant.

Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower's income, assets and employment information have been validated through automated underwriting.

When the San Bernardino shooter obtained a loan online, he reportedly used his real name, which wasn't on the government's sanctions-screening list, underscoring the limitations of identity verification technology.

The experience Thomas Ko gained at Citigroup and Haley Kim's time at Wells Fargo were vital in building Samsung's mobile pay app.

Bizfi, a New York-based online small-business finance company, announced the hiring of John Donovan as its new chief executive officer.

The Center For Financial Services Innovation has released a framework it says is designed to spur safe data sharing between banks, fintechs and third-party data aggregators.

Opus Bank in Irvine, Calif., reported a larger-than-forecast quarterly loss after deciding to set aside more reserves than it predicted it would a week earlier.

The new Spanish-language settings on B of A's app, USAA's new voice-guided remote-deposit capture and moves by others show how financial institutions are using technology to better serve the needs of customers.

Bank of America unveiled a virtual assistant that will be integrated into its mobile banking app, at the Money 2020 conference today in Las Vegas.

Legal and technical hurdles stand in the way of remote account opening becoming commonplace. But banks are ramping up their efforts to make it happen, and some in Congress are trying to help by eliminating restrictions on digitally capturing and storing information from customers' ID cards.

Visa's incoming Chief Executive Officer Alfred F. Kelly will enter the job with a $15.4 million target compensation. That's a premium to his predecessor and about on par with Mastercard Inc.'s CEO Ajay Banga.