Banking

The $1.6 billion-asset Bar Harbor said in a press release Thursday that it will pay $143 million, or $17 a share, in stock for the $1.6 billion-asset Lake Sunapee.

The finance industry pushed back against a proposal by the Consumer Financial Protection Bureau Thursday that would ban arbitration clauses in consumer contracts.

Most of the largest banks are participating in industrywide blockchain standard-setting activities, trying to determine which use cases would improve upon existing technology. That's backward, says Chain, a startup whose product is already being used by banks.

National Capital Bank of Washington has a named Richard Anderson its new president and chief executive.

Hefty investments in customer-facing technology such as person-to-person payments, mobile check deposit and fingerprint recognition have given big banks a decided edge in attracting and retaining younger consumers.

Going forward, Fannie Mae will be relying more on loan guarantee fee income from its single-family and multifamily businesses.

Add HSBC to the list of banks offering Touch ID authentication services to mobile banking customers.

Midland Financial in Oklahoma City has hired a former Wells Fargo executive to run its finance unit.

Banc of California bulked up quickly in the aftermath of the financial crisis, first through acquisitions and now with organic growth. CEO Steven Sugarman discusses how his bank manages its exposure while preparing to cross an important regulatory threshold.

The job of chief financial officer is more complex than ever, requiring high levels of expertise in not just accounting, but also compliance, technology, investor relations and strategic planning. CFOs today also need to have strong interpersonal skills and show an ability to juggle multiple tasks at once. Here are some helpful hints from existing CFOs on how to flourish in one of banking's most demanding jobs.

Subprime auto lender Credit Acceptance Corp. has received a subpoena from the Maryland attorney general regarding its repossession and sales policies.

In a major setback for banks, credit unions, credit card companies and many other financial firms, the Consumer Financial Protection Bureau on Thursday issued a proposal that would ban the use of arbitration clauses that prevent consumers from bringing class-action lawsuits.

Requirements that banks share anti-money-laundering information should extend to fraud and cyber risks, to connect the dots between bad actors and their transfer of money.

The hacktivist group Anonymous, which brought down the Greek central bank's website through a distributed denial of service attack on Tuesday, claims it will be targeting financial organizations around the globe over the next 30 days.

Short Hills, New Jersey, is among the richest communities in the U.S. The directors of a local savings and loan get paid accordingly.

Fannie Mae will make a $919 million dividend payment to the U.S. Treasury Department after reporting a first-quarter profit driven by fees for guaranteeing loans against default and credit-related income.

Students with excess cash but no bank account have fallen victim to predatory financial vendors, but the government can take steps to bypass the middleman.

BNC Bancorp in High Point, N.C., is the latest company to terminate its loss-share arrangements with the Federal Deposit Insurance Corp.

ACA International, the largest association representing collection agencies, has released a white paper that directly responds to the CFPB's March report that focuses on collection complaints.

The Consumer Financial Protection Bureau is set on Thursday to issue a proposal that would ban the use of arbitration clauses that prevent consumers from bringing class action lawsuits. The proposal on arbitration is a major setback for the financial services industry, which will face potentially higher expenses to defend lawsuits.