Banking

PRA Group, a Norfolk, Va.-based debt buyer, announced the creation of a new leadership position - vice president, Office of the Consumer.

A federal court found BlueHippo Funding LLC, BlueHippo Capital LLC and Joseph Rensin in contempt for operating an allegedly deceptive computer financing scheme in violation of a court order the defendants agreed to in 2008.

A new blockchain protocol that has been in development for the past 18 months is ready for its public release.

Amalgamated Bank in New York has started offering down payment insurance to homebuyers in a move it hopes will set it apart with highly mobile millennial borrowers.

Christopher Cline, a former Wells Fargo executive, has joined the management of a community bank in Vancouver, Wash., to help it build up its wealth management business.

Pressure is building on financial services providers to develop more merchant-centric loyalty programs to fight declining interchange revenue, and U.S. Bank is testing one approach in Lawrence, Kan.

The $3.6 billion-asset Mechanics said in a press release last week that it will pay $37.19 a share for the $1.8 billion-asset California Republic.

The state of Delaware is looking to avoid prescriptive regulations when it comes to supervising blockhain companies, but instead be mindful of how the industry actually works, Gov. Jack Markell said Monday.

With an improving economy, higher-quality originations and declining delinquencies, the market for mortgage servicing rights is catching fire.

WASHINGTON — Federal Deposit Insurance Corp. Chairman Martin Gruenberg has been called to testify on recent cybersecurity breaches in front of a House committee this month.

As smartphone-carrying baby boomers retire, banks can no longer ignore seniors' unique digital banking needs.

Servicing rights are high-yielding assets, making them attractive investments for hedge funds, real estate investment trusts and banks.

The U.S. Department of Education has changed the student loan default rates at 21 colleges to allow them to continue receiving federal funding.

The industry "as a whole" benefits from tech investments at megabanks, says Manuel Chinea, chief operating officer at Popular Community Bank. Big banks have taught consumers how to use new mobile features – and small banks can use that knowledge to their advantage, as they roll out new products.

The state of Delaware is looking to avoid prescriptive regulations when it comes to supervising blockhain companies, but instead be mindful of how the industry actually works, Gov. Jack Markell said Monday.

Varo Money, a mobile-only startup that focuses on financial health, announced Monday it has raised more than $27 million. The global private equity firm Warburg Pincus led the round.

Old National Bancorp in Evansville, Ind., will exit the insurance business after selling those operations to Prime Risk Partners.

Pacific Premier Bancorp in Irvine, Calif., is planning to close three California branches.

One of the most innovative banks has joined a trade group that represents the nascent blockchain and digital currency industry.

Digital Identity Security Co., a startup, is building an encrypted messaging and identity management platform for the Commonwealth governments. The system would use distributed ledger technology, similar to bitcoin's blockchain.