Banking

Pennsylvania state regulators on Friday closed the $103.3 million-asset First CornerStone Bank in King of Prussia, the third institution to fail this year.

At least three large U.S. banks are preparing to go to market with new small-dollar installment loan products in a move that could potentially disrupt the payday lending industry.

Square's practice of using its merchant transaction data for risk analysis may seem innovative, but other agile specialists — including Intuit — are finding ways to use new data streams to limit risk and deliver funds to borrowers.

Household borrowing surged in March at the fastest pace since November 2001 as financing for automobiles picked up and Americans' outstanding credit-card debt soared.

Many bank security people will undoubtedly shrug off Anonymous' claim that it's trying to bring down banks all over the world. There are a few reasons to take it seriously.

A proposed class-action lawsuit against LendingClub threatens investors in bonds backed by its loans and similar debt even if the plaintiff loses, Moody's Investors Service said Thursday.

Maria Vullo, still stuck in limbo as acting superintendent of the New York State Department of Financial Services, is hindered from putting her mark on the agency until she gets confirmed. So a quiet guessing game is going on about how her supervisory philosophy will compare with her predecessor Benjamin Lawsky.

Enterprise Financial Services Corp. in Clayton, Mo., has named a prominent St. Louis private investor and entrepreneur as its next independent chairman.

Square's practice of using its merchant transaction data for risk analysis may seem innovative, but other other agile specialists—including Intuit—are finding ways to use new data streams to limit risk and deliver funds to borrowers.

Loan growth at several Boston banks, including many former mutuals, is higher than the national average. Still, bankers are closely watching for any indication that a bubble is forming.

Nearly a quarter-century before his wife was on the verge of winning a presidential nomination, then-Democratic candidate Bill Clinton was seen as supporting "true nationwide banking," though some worried he would also expand the Community Reinvestment Act.

Counterfeit card fraud is finally on the way down as EMV creeps into the U.S. marketplace, but card not present (CNP) fraud through online channels is skyrocketing. It's too soon, however, to blame the EMV shift.

The finance industry pushed back against a proposal by the CFPB that would ban arbitration clauses in consumer contracts, saying it will pave the way for a flurry of class action lawsuits and result in higher prices for products and services.

Banking is often seen as a quintessentially modern institution. But financial practices are deeply rooted in the medieval period.

A debt-buying giant has been recognized by Forbes as one of America's Best Midsize Employers.

A federal judge in Pennsylvania has ruled that a recovery agency facing alleged Fair Debt Collection Practices Act violations will see that case go forward.

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.

Though many have tried and failed to get bitcoin into the mainstream, iPayYou CEO Gene Kavner is ready to take a page out of the playbook of Amazon.com, his former employer, to bring attention to his new bitcoin wallet.

One of the last surviving black-owned banks in Chicago was rescued from its loan-related woes by a Ghanaian-American family.

Cameron and Tyler Winklevoss's Gemini Trust Company LLC has gotten a New York State regulator's blessing to trade another kind of cryptocurrency on its bitcoin exchange.