Banking

The $126 billion-asset holding company for Regions Bank said Jeremy King, who had been support manager for private wealth, is now executive vice president of wealth management strategy and effectiveness for Regions Wealth Management.

After years of bulking up on shared national credits, a number of regional banks are cutting back because of the heartburn from problem oil and gas loans. A few lenders are refusing to budge, but many will have no choice if they want to dilute the energy risk on their books.

Some business that's been ceded to fintech startups such as marketplace lenders and financial app providers can be won back, bankers say.

The Canadian company took its time before making a bank acquisition in the U.S. The wait allowed management to address internal performance, assess the market and find the right bank to buy.

Banks, credit card companies and other financial firms are strategizing ways to stave off higher legal bills they expect from the Consumer Financial Protection Bureau’s proposal to limit the use of arbitration clauses, which is likely to open the floodgates to class action lawsuits.

A $5.7 billion settlement by Visa and MasterCard was rejected by an appeals court in New York, potentially renewing years of litigation with U.S. merchants over allegations that credit-card swipe fees were improperly fixed.

The business case for real-time payments is not the opportunity to charge high fees. Rather, the payoff – which will take time – will come in retaining customers, lowering operational costs, and delivering timely financial insights to smartphone-toting customers.

WASHINGTON — Whether bitcoin is actual currency is at the forefront of a first-of-its-kind money-laundering case in Florida to be decided Friday.

IBM has joined the Chamber of Digital Commerce, the Washington, D.C.-based organization working to help shape the regulatory framework for the blockchain industry.

Debt collection complaints fell in May, and the average of complaints from March through May also dropped, according to the Consumer Financial Protection Bureau’s latest monthly complaint report.

American International Group, the largest commercial insurer in the U.S. and Canada, named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.

Attendees at the recent White House fintech summit shined a spotlight on shared innovation challenges. To overcome them and help the U.S. make progress in financial services, we need to embrace these three regulatory reforms.

WASHINGTON — The Federal Deposit Insurance Corp. has improved its information security processes, but more changes need to be made, the Government Accountability Office said in a report published Wednesday.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The $5.5 billion-asset company said in a press release Wednesday that Vincent Palagiano, who has been its chief executive since 1989, will retire at the end of this year. Kenneth Mahon, Dime's president and chief operating officer, will succeed Palagiano, who will remain chairman.

First Data has secured a partnership with Silicon Valley Bank, giving the payments technology provider and processor a front seat to take notes on all of the technology development taking place among the bank's clients.

Wirecard AG has agreed to buy Citigroup’s institutional prepaid card business, giving Germany-based Wirecard its first market foothold in North America.

The Little Rock, Ark., bank got the final regulatory approval it needed to buy C&S and C1, but not before agreeing to address some community reinvestment concerns in the Atlanta market and elsewhere.

Although intended to protect investors from market volatility, a decision by Betterment to temporarily suspend trading the morning after the British referendum has the wealth management industry wondering aloud if the robo-adviser harmed its reputation instead.

A new survey reveals challenges and opportunities for banks looking to serve younger entrepreneurs. Hint: they crave financial guidance and are in it for the long haul.