Banking

Steve Streit retained his board seat Monday, but lost two allies, as a large shareholder indicated that it will continue pushing for his ouster.

QCR Holdings in Moline, Ill., has agreed to buy Community State Bank in Ankeny, Iowa.

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Nonperforming commercial-and-industrial loans are soaring, and loans to farmers and construction firms — not just oil and gas companies — are a big reason.

Standard Bank Group Ltd., Africa's biggest bank by assets, said it lost as much as 300 million rand ($19 million) to organized fraud in Japan.

A proxy advisory firm has sided with Financial Institutions in Warsaw, N.Y., in its battle with an activist investor.

Don Tapscott and Alex Tapscott, authors of "Blockchain Revolution," discuss the implications for banks of distributed ledger technology, the pros and cons of private blockchains compared to open networks, how DAOs might eliminate moral hazard, and more.

Many see the future of financial services being powered by partnerships between banks and fintechs, but both sides need to first make sure they understand themselves and what they want.

Green Dot’s embattled founder and chief executive, Steve Streit, is expected to be reelected to the board based on preliminary voting results from its annual meeting, the company announced Monday.

LaPorte Bancorp was poring over offers from potential buyers when Raymond James, the company's investment bank, notified LaPorte's board that it was also advising a potential acquirer on a separate deal. LaPorte requested more information before ruling out a potential conflict of interest.

Cattaraugus County Bank in Little Valley, N.Y., has named Salvatore Marranca chairman less than two years after he retired as its chief executive.

El Paso, Texas recently changed collection agencies pursuing unpaid traffic tickets, which has reportedly resulted in several thousand additional mailing contacts - and more complaints from irate consumers.

Two Michigan residents have filed a class-action lawsuit alleging that debt servicer Money Recovery Nationwide is unlawfully collecting additional fees.

Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.

Home sales growth has been tepid nationwide thanks largely to a cooling down of the housing market in the West, according to an analysis from Summit Valuations.

Green Dot Corp.'s longest-serving directors, Timothy Greenleaf and Michael Moritz, resigned from the board hours before they were to stand for re-election as the firm's largest shareholder wages a proxy fight.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

The secondary marketing agency wants to model how servicers' available cash might stand up to shocks because interruptions to that liquidity have been a common problem among those that failed.