Banking

The Consumer Financial Protection Bureau's complex payday lending proposal is sparking concerns that state legislatures will try to repeal existing usury laws and allow a parade of pro-payday-lending bills to move forward.

Access National Corp. in Reston, Va., said Thursday that it has hired Mark Moore, a veteran commercial banker, as president of Access National Bank.

JPMorgan Chase can give valued clients a free automated investment service or a checking account that comes with no-cost brokerage trades as part of a future bundle of digital-banking products, Chief Executive Officer Jamie Dimon said.

Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa.

Credit quality has improved across the industry over the past few years, but don't expect that trend to continue because of several economic forces, big-bank CEOs said Thursday.

As its digital consumer executive, Carrie Sumlin is tasked with making sure Ally Bank offers its customers top-notch digital services since it doesn't have any branches.

Some days the ride-sharing app receives more than a million phishing emails — a stat to which large banks can relate. But after deploying common protocols and open-source software, Uber now rejects most bad emails.

Franklin Savings Bank in Franklin, N.H., has lured an executive from Florida to become its next chief financial officer.

The Consumer Financial Protection Bureau proposal could have included flexibility for banks to offer payday loan alternatives, but the plan misses the mark.

Novantas has acquired Chicago-based consulting firm Treasury Strategies.

Mackinac Financial in Manistique, Mich., has promoted an executive from its bank to become its next chief financial officer.

Sen. Elizabeth Warren, the founder of the Consumer Financial Protection Bureau, said Thursday she would fight back against congressional efforts to delay or revamp the agency's payday lending proposal even while she acknowledged the plan could have been tougher.

Branch managers are essential, but it is the manager's manager that can set the tone for the performance of a bank's branch program.

Castle Creek Capital Partners has appointed a director to serve on the board at HCSB Financial in Loris, S.C.

The Consumer Financial Protection Bureau issued its long-awaited proposal Thursday to regulate payday, auto title and certain high-cost installment loans without a key provision that would have allowed banks to compete by offering their own small-dollar loans.

How Eastern Bank pulled off something few community banks have: launching a digital lending product that the 197-year-old mutual dreamed up in its innovation lab.

The Consumer Financial Protection Bureau's long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans did not include a provision that banks had planned would allow them to compete by offering small-dollar installment loans.

The 'decentralised apps' tied to blockchain bring increased transparency, automation and security to traditional payment systems. This can create a domino effect that leads to a reduction in operational costs, accounting expenses, and friction which can benefit the business and pass savings on to customers.

Summit Financial Group in Moorefield, W.Va., has agreed to buy First Century Bankshares in Bluefield, W.Va.

While there were positive signals like loan growth and improved interest margins in the Federal Deposit Insurance Corp.'s first-quarter report card, there were also signs of trouble for the future, including larger institutions' ongoing exposure to the energy sector.