Banking

Franklin Financial Services in Chambersburg, Pa., has find a successor for its chief executive.

The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.

Affirm's head of new markets, Brad Selby, says hidden fees and onerous compounding interest terms are trapping too many consumers in deep credit card debt.

Fannie and Freddie regulator's first report on NPL sales shows more borrowers avoid foreclosures when their loans are sold to investors.

The $99 million-asset thrift said in a recent press release that Best Hometown Bancorp, a holding company it created, raised $8.3 million as part of an initial public offering tied to its mutual-to-stock conversion. Home Federal also plans to change its name to Best Hometown Bank.

The $685 million-asset Pinnacle Financial in Elberton, Ga., said in a press release Friday that it will pay $32.8 million in cash for the $184 million-asset Independence Bank of Georgia in Braselton.

Some critics of the bureau think there is a renewed chance to change the bureau's structure. They point to the presidential election and recent setbacks to CFPB Director Richard Cordray, including a watchdog's report on employee discrimination and a pending legal challenge to its constitutionality, as laying the groundwork for a change.

Berkshire Hills Bancorp is buying a bank with a national mortgage platform. The company hopes the business will provide a much-needed lift in fee income.

JPMorgan Chase is opening its doors to fintech startups to work with its business lines directly on bank innovations for faster, safer and more cost-efficient operations.

Liberty Shares in Hinesville, Ga., one of a handful of banks still stuck in the Troubled Asset Relief Program, has raised $26 million in capital.

MVB Financial in Fairmont, W.Va., has sold most of its insurance business to USI Insurance Services in Valhalla, N.Y.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Initial coin offerings are the latest fad for many emerging cryptocurrency companies and projects. From the recently completed Lisk, Waves and Mycelium coin offerings to the historic crowd sale by the DAO – which was subsequently hacked for about $60 million – to Bitland, Project Decorum, Elastic Project and a good number more sales, the trend is clear.

The decision by a federal appeals court to toss out a blockbuster settlement between retailers and the card networks could re-expose some banks to legal liability and threaten their already challenged interchange income.

The bitcoin blockchain poses a negligible competitive threat to legacy institutions, but the technology could open up new markets for financial services, says a new report by Citigroup equities analysts.

The Consumer Financial Protection Bureau said Thursday that it paid $24.5 million in restitution to consumers after uncovering illegal activities in auto finance and payment firms in the first four months of this year.

Flagstar Bancorp in Troy, Mich., is paying $371 million to put behind it the vestiges of its dealings with the Troubled Asset Relief Program.

First Bank in Hamilton, N.J., has raised $13.7 million by selling common stock.

NPL investors will have to consider principal reductions and offer more sustainable loan modifications.

Heather Cox says Citi cherry-picks the best of fintech apps for its own services; FemTech leaders ponder what Brexit means for fintech; and SEC chair Mary Jo White takes on board diversity. Plus, Synovus' Liz Dukes Wolverton and Synchrony's Carol Juel.