Banking

Lending Club said Thursday that it has hired Sameer Gulati, formerly of McKinsey & Co., to be its chief operations officer and promoted another executive, Scott Sanborn, to president. Both are newly created positions at the nonbank lender.

Experts from across the payments industry gathered in Los Angeles for SourceMedia's annual Card Forum and Expo. Here are some of the biggest ideas discussed at this year's event.

The CFPB filed complaints in federal court Thursday against two co-founders of a company that resold loan applications containing personal data to lenders and data brokers without reviewing the sources of those leads or the purchasers.

People's United Financial in Bridgeport, Conn., reported higher first-quarter profits as it increased lending for both commercial and residential real estate.

Traditional banks are not likely to match the nimbleness of a fintech startup for a whole variety of reasons. But that doesn't mean all is lost.

LendingClub Corp., a pioneer of online marketplace lending, said it raised rates for borrowers again to reflect a gloomier economic outlook and worse-than-expected performance for some of its riskiest loans.

American Express is determined to minimize the damage from losing profitable Costco cardholders in Canada and the U.S., and is taking steps to keep as many of those customers in the Amex fold as possible.

High Point Bank considered bulking up to the size of other community banks in its market but quickly realized that the strategy would involve significant expense, risk and capital. So the company ended up selling to BNC Bancorp.

Sen. Ted Cruz has made killing the Consumer Financial Protection Bureau one of his key stances on banking policy during his fight to become the Republican presidential nominee.

There are countless considerations banks face when joining another institution, but blending two distinct organizational philosophies into a healthy culture must be a top priority.

U.S. home sellers in March sold their homes for $30,500 more than the purchase price, a 17% average gain in price and the highest average gain for home sellers since December 2007, according to RealtyTrac’s Q1 U.S. Home Sales report.

Wider margins and expense control boosted quarterly profits at BB&T in Winston-Salem, N.C.

Glacier Bancorp in Kalispell, Mont., has agreed to buy Treasure State Bank in Missoula, Mont., for $12.9 million in cash and stock

TCF Financial in Wayzata, Minn., reported sharply higher profits driven by gains on the sale of auto loans even as auto-related chargeoffs rose.

Higher compensation and credit costs drove down quarterly profits at Fifth Third Bancorp in Cincinnati, offsetting revenue gains.

Citizens Financial Group in Providence, R.I., said Thursday that its first-quarter earnings increased 7% from the same period last year, to $223 million, as strong commercial loan growth offset a dip in fee income. Earnings per share increased 8%, to 41 cents.

It's not exactly clear what blockchain will amount to, but Capgemini is convinced it will be too good an opportunity to miss.

Profits barely budged at Umpqua Holdings in Portland, Ore., even though it recorded strong consumer and other loan growth last quarter.

Competitive pricing and softening demand at the high end of the apartment- and condo-building market had executives at BankUnited, Signature and New York Community answering tough questions about their growth projections and diversification strategies.

For years, banks in the Midwest looked beyond the region to increase revenue and profit. Today, the area is starting to bounce back, allowing many of those banks to thrive by focusing on their core markets.