Banking

Banking industry representatives immediately raised significant questions about Donald Trump's plan to block remittances to Mexico, including the appropriateness of using financial institutions as a tool to carry out immigration policy, as well as how the policy would be executed.

GOP lawmakers and witnesses at a Senate Banking Committee hearing pointedly criticized the Consumer Financial Protection Bureau on Tuesday, setting the stage for a likely contentious hearing with the agency's director later in the week.

Agile development, a method of writing software in small chunks with lots of user feedback, is a growing trend in banks. Here's why.

Amalgamated Bank in New York has recruited a former American Express executive to develop its online banking platform and has created a new position to oversee corporate philanthropy.

USAmeriBancorp in Clearwater, Fla., has completed a private placement to institutional investors of $45 million in subordinated notes.

In an interview, FDIC Chairman Martin Gruenberg said the agency will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt — like Citizens Financial and SoFi — see an opportunity to reel in more customers.

Ally Financial announced Tuesday that it had agreed to buy the online brokerage firm TradeKing Group for approximately $275 million. TradeKing, based in Fort Lauderdale, Fla., has roughly $4.5 billion in client assets.

ITT Technical Institute exaggerated its job-placement rates by counting "any job graduates got that somehow involved the use of a computer" and misled prospective students about the quality of its programs, according to a lawsuit filed Monday.

Donald Trump proposed to block billions of dollars in payments immigrants send back to Mexico if the government there refuses to pay for a border wall, in a potentially devastating move for Mexico's economy.

A federal judge in Michigan has dismissed a proposed class-action lawsuit accusing debt buyer Encore Capital Group of suing consumers over old debts that were no longer legally enforceable.

U.S. Bank's steep price for instant payments risks limiting the feature's appeal. Rather than overcharging, banks need to think longer-term about how to drive payments volume.

State Bank Financial in Atlanta has agreed to buy NBG Bancorp in Athens, Ga.

Union Bankshares in Richmond, Va., has agreed to buy Old Dominion Capital Management in Charlottesville, Va.

Delaware, whose business-friendly laws have lured more than half the country's publicly traded corporations and more than 60% of the Fortune 500 to incorporate in the state, is now vying to become a hub for blockchain technology.

Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in the agency's case alleging that PHH Corp. accepted illegal kickbacks.

DNB Financial in Downington, Pa., has agreed to buy East River Bank of Philadelphia.

Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in its case against PHH Corp.

The $1.3 billion-asset Westfield said in a press release Monday that it will pay $110 million, or $20.42 a share, in stock for the $800 million-asset Chicopee.

As they look to cut costs, banks are looking across the globe for cheap spots to host parts of their operations. A new report identifies the best back-office bargains.