Banking

The information you need to start your day, including top headlines from PaymentsSource and around the Web. In today's briefing:
PayPal's network deals; Facebook's eBay collab; Tommorow's Siri

Federal banking regulators issued a broad proposal Wednesday designed to counteract cybersecurity threats that could hit at the financial industry's critical junctures.

A strong and dynamic risk detection system requires focusing on the most important blind spots not satisfactorily explained by existing tools, rather than focusing on the "answers" produced by those tools.

BB&T in Winston-Salem, N.C., rode recent acquisitions to a record profit in the third quarter.

Banc of California, the lender that's paying $100 million to sponsor a soccer stadium, rose in early trading Wednesday after moving up its quarterly earnings release following a report by an anonymous short seller that caused the shares to plunge a day earlier.

Its loan-loss provision increased largely due to energy-related loans, but Hancock Holding in Gulfport, Miss., still reported higher third-quarter profits. Lower expenses and an increase in lending for healthcare, equipment finance and mortgages were the main reasons.

First Tennessee Bank in Memphis has recruited a quartet of executives for its expanding specialty banking lines that serve the franchising, healthcare, music, and transportation industries.

Profits at Fulton Financial in Lancaster, Pa., surged 21% in the third quarter compared with a year earlier thanks largely to robust fee income growth and tight expense control.

Remember how commercial and industrial lending was a hot item in the first half of the year? Not anymore. Blame election-year blues and a regulatory crackdown on CRE, regional bank executives said. The good news is that the hand-wringing over energy lending has largely subsided and banks are taking advantage of new opportunities in specialty lending.

Two San Francisco supervisors on Tuesday introduced a resolution that would "end all business with Wells Fargo," in response to the fake account scandal and other practices that have harmed consumers.

CenterState Banks in Davenport, Fla., has agreed to buy Platinum Bank Holding Company in Brandon, Fla., in a $83.9 million cash-and-stock deal.

Early pioneers of this form of artificial intelligence in the banking industry see clear benefits but unexpected pain points that have to be addressed.

The investment bank will take "a very deliberate and methodical approach" to building its online lending platform, Chief Financial Officer Harvey Schwartz told investors Tuesday, implicitly drawing a contrast to once-highflying startups like Lending Club and Propser.

Recent moves by the Consumer Financial Protection Bureau, including a plan to regulate payday lending, take away what limited credit options consumers have.

Biometric security company Hypr Corp. has closed a $3 million funding round to accelerate the development and adoption of its encryption product.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. In today's briefing: Charles Scharf's tenure; Apple Pay's goals; giving up gift cards.

Attendees at this year's American Bankers Association conference are fixated on the election, fintech competition and banking's changing landscape. While optimistic, many are still wondering where their industry is headed.

The Dallas company said Tuesday that it earned $149 million the third quarter, an increase of nearly 10% over the same period last year and up 150% from this year's first quarter, when plunging oil and gas prices forced it to sharply boost reserves on loans to energy firms.

Does scale matter to a community bank? What does the disappearance of black-owned banks mean to the communities they served? What impact has regulation had on banking? Those questions were among the many addressed by researchers at the recent community banking conference in St. Louis hosted by the Federal Reserve and Conference of State Bank Supervisors.

Ameris Bancorp in Moultrie, Ga., reported a double-digit increase in profits thanks to an acquisition, organic loan growth and other factors.