Banking

JPMorgan posted strong gains in consumer deposits and mobile users, and other big banks are expected to do the same. It could be a sign that megabanks are indeed stealing market share from regional and community banks.

Santander Bank will pay a $10 million fine for charging illegal overdraft fees and for signing up consumers for overdraft services without their consent, the Consumer Financial Protection Bureau said Thursday.

David Saul, State Street's chief scientist, has completed a proof of concept for the Financial Industry Business Ontology, a standard way of expressing contract terms electronically. To him, it's a prerequisite for blockchain technology and smart contracts.

Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

That’s the message that two funds have for directors of Commonwealth Business Bank in Los Angeles.

Loans tied to franchises were often an area of concern for banks before the financial crisis. Industry growth, improved credit metrics and a need to diversify commercial loan portfolios are prompting several banks to take a second look at the business.

Congress should abandon the idea of repealing a section of the Dodd-Frank Act that has helped make pricing for payment processing more competitive.

JPMorgan Chase said second-quarter profit fell 1.4%, beating analysts' estimates as fixed-income trading revenue and loan growth jumped.

Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities.

Companies have struggled for years to find a simple way to get consumers to set up a payment account without derailing the checkout process. One company is taking a step back and asking: Why delay a sale by demanding money?

For the third straight year, USAA took the top spot in a survey of customers' online experience conducted by research firm Temkin Group.

USAA now offers voice-guided check deposit on its mobile app for visually impaired customers.

The investigation into the lack of new bank charter applications has turned into a proxy battle over the Dodd-Frank Act, with Republicans and many industry players pointing a finger at the 2010 law.

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

In 1999, the OCC issued a charter to the internet bank AeroBank, but the startup's efforts to raise capital were thwarted when dot-com-boom money went chasing shinier options. Nonetheless, the bank’s experiences resonate with fintech banks trying to obtain a national charter today.

Jack Kuntz, president and chief executive at American Savings Bank in Portsmouth, Ohio, recently put his personal cell phone number on a billboard off Interstate 71 in Cincinnati as part of an advertising campaign for his $260 million-asset institution.

The $31 billion-asset company said in a press release that Marty Grunst will also join its executive leadership team on Aug. 1.

Social media may be the soup de jour of bank marketing, but its value as a business acquisition tool may be greatly exaggerated unless banks fine-tune their strategies.