Banking

The American Bankers Association is laying the legal basis for a lawsuit to challenge Congress' decision to cut dividend payments made by the Federal Reserve to its member banks.

CIT's bread-and-butter business — commercial banking — weakened as it embarks on a broader turnaround plan. Soft demand from midsize companies plagued it and other lenders last quarter. Will that problem continue the rest of the year?

New details unearthed about how cybercriminals stole $81 million out of a Bangladesh Bank account at the Federal Reserve Bank of New York provide insight into how the theft occurred, some of the vulnerabilities that were exploited and what banks can learn from the incident.

A ninth-grader challenges Bank of America's CEO; the San Francisco Fed has a lot of interest in fintech; FinCEN's Jennifer Shasky Calvery is leaving, possibly for a banking job; Wells Fargo's Secil Watson talks up a new biometrics option; and Sallie Krawcheck appreciates Carla Harris' career advice. Plus, Kelly Ripa and the 49ers.

Bank of New York Mellon and Northern Trust are charging money market investors more fees after previously cutting them major breaks in the low-rate environment.

Higher noninterest income was instrumental in a 3.9% quarter-to-quarter profit increase at Capitol Federal Financial in Topeka, Kan., in the three months that ended March 31.

No one at Old Fort Banking could afford to buy the large stake being sold by the Ohio bank's majority shareholder. So the employee stock ownership plan stepped in, and now it plans to take full control of Old Fort's holding company.

Fifth Third Bancorp is turning to a veteran of the consumer goods industry to help shape its approach to innovation.

Success rates vary wildly for innovation labs, but some basic principles increase a bank’s chances of the incubation process leading to viable product expansion.

The Consumer Financial Protection Bureau on Thursday unveiled new disclosures for federal student loans that would require servicers to offer borrowers several repayment choices.

The latest U.S. Economy in a Snapshot report from the Federal Reserve Bank of New York reveals consumer spending increased slightly in February.

Royal Credit Union in Eau Claire, Wis., has agreed to buy Capital Bank in St. Paul, Minn., from First Sleepy Eye Bancorp in Sioux Falls, S.D.

Innovation in financial services faces a hurdle in the narrow, short-term profit motives of predatory patent trolls. Here is what startups can do to ward off attacks.

MasterCard Inc., the second-largest U.S. payments network, reported profit that beat analysts’ estimates as card spending increased.

Students used to leave college with two artifacts of their first experiments with credit — free T-shirts and, for better or worse, a credit file. Today they are leaving without either.

The Consumer Financial Protection Bureau is set Thursday to propose new disclosures for federal student loans that would require servicers to provide several repayment options for borrowers.

UMB Financial in Kansas City, Mo., reported higher profits as loan growth from a recent acquisition helped offset ongoing declines in its advisory business.

Penn Community Bank didn’t have a CFO until it hired Stephanie Austin, who won praise for building a solid finance department at her previous job.

WASHINGTON — The Federal Home Loan Bank of San Francisco has selected Greg Seibly to be its new president and chief executive starting May 12. He will take over from Dean Schultz, who is retiring after 25 years at the helm of the bank.

The Palo Alto, Calif.-based startup said Wednesday it plans to use the investment to help grow its cloud-based factoring platform for small businesses and expand into new market segments.