Banking

Southern First Bank in Greenville, S.C., and Five Star Bank in Warsaw, N.Y., are entering new markets.

Some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan, will gather Wednesday to work on the biggest issue hobbling the technology behind digital currency -- the absence of grown-up governance.

The latest lending figures show just how prodigious banks' shift from construction to C&I loans has been since the crisis. Yet a hard look at C&I credits, especially their loss rates, raises questions about whether they are safer.

In a belated regulatory filing, Carver Bancorp in New York said its profits in the quarter that ended June 30 fell 8% from a year earlier, to $408,000, due to a double-digit increase in expenses.

Fundation Group, a New York-based online small-business lender, announced Tuesday that it has secured a $100 million credit facility from Goldman Sachs.

Artificial intelligence has gotten good enough to do some of the more mundane tasks people perform at banks every day. Whether the trend will kill certain job categories entirely or make a lot of dull work more interesting, or both, is an open debate.

New specifications for Fannie Mae and Freddie Mac's common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.

Companies like Prosper have revolutionized the front end of the consumer lending experience, but they have not proven able to handle even minor financial bumps without running off the road.

Democratic presidential nominee Hillary Clinton renewed her pledge Tuesday to cut regulations for community banks and credit unions while also signaling plans to embrace the burgeoning fintech sector.

Sure, there is an inherent business tension between banks' digital offerings and personal financial management software. However, the ground rules for making account data available to consumers for use in external software products and apps are in place and the so-called rivalry is overblown.

High-profile hacks such as the attack on the Swift messaging system highlight how banks depend on each other to have top-notch cybersecurity. "Everyone's security is at risk, because everyone is communicating with each other," says Andre McGregor, director of security at Tanium.

Next month all U.S. banks and credit unions will be required to process speedier payments on the automated clearing house network. Here is what bankers need to know.

The Consumer Financial Protection Bureau said Monday that Wells Fargo had engaged in illegal student loan servicing practices by processing payments to maximize late fees.

Howard Bank in Ellicott City, Md., has recruited a trio of BB&T executives to grow its commercial business.

The Federal Reserve Board launched a Facebook page last week — and it went about as well as you would think. Social media experts faulted its approach as high-handed and tone-deaf, raising questions about what the central bank was trying to accomplish and about its commitment to social media.

Diebold Nixdorf’s shiny new corporate moniker is already threatened by a possible deep investigation by U.K. authorities into the company’s possible anti-competitive violations.

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

Wells Fargo & Co. will pay $3.6 million to the U.S. Consumer Financial Protection Bureau and $410,000 in restitution to settle the regulator's claims over student-loan servicing policies that it says boosted costs for borrowers.

Analytics tools for customer experience are an increasing priority for banks, but technology alone won't change anything. Banks also need to create an internal culture of data science.