Banking

Thousands of students who were defrauded by Corinthian Colleges could receive billions in debt forgiveness from the federal government, the U.S. Department of Education announced Friday.

Hackers penetrated the computer network of a Verizon Communications subsidiary, but the company says it plugged the hole before much data was compromised.

CU Anytime will upgrade its ATM management system to a software platform provided by NCR Corporation and INETCO Software.

Sterling Bancorp in Montebello, N.Y., plans to raise $105 million in a debt sale to fuel potential acquisitions of commercial lenders.

WASHINGTON – Four Democratic senators sent a letter on Thursday to federal financial regulators asking for clear guidance on how banks can serve the marijuana industry.

Nandita Bakhshi and Ellen Alemany discuss strategy; Beth Mooney strikes a deal; a Lehman Sister recounts her experience as a woman at the top of Wall Street in its doomsday; and HSBC sets a goal to have equal gender representation in certain areas by 2020. Plus, some interesting research on equal pay for women, and good grief, Raymond Moore.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

A Georgia-based debt collection law firm and a debt buyer didn't violate federal law by misleading consumers into believing that they would be sued if they didn't pay the amount they owed, the 2nd Circuit U.S. Court of Appeals has ruled.

Roughly 90 banks that participated in the government's lending program still owe money to the Treasury Department and face a massive dividend increase. Many of those could view selling as a better alternative to raising new capital.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

Asking for static information like a mother's maiden name seems increasingly passé, since shared "secrets" can be stolen or gleaned from the Internet. But without a brilliant alternative, and done with care, knowledge-based authentication still has value.

The Federal Trade Commission, hoping to strengthen cross-border cooperation on anti-spam and Do Not Call enforcement, signed a memorandum of understanding with the Canadian Radio-Television and Telecommunications Commission.

Experts see the British bank's decision to downsize its African stake as another example of money-laundering concerns and other risks prompting institutions to get out of emerging markets.

Jefferson Security Bank in Shepherdstown, W.Va., has promoted Cynthia Kitner from chief financial officer to chief executive.

Diebold acquired enough Wincor Nixdorf shares to complete the purchase of its German rival, a deal that creates a maker of cash machines and systems with more than $5 billion in sales.

Two senior GOP lawmakers are warning regulators against preferential treatment for housing advocates and nonprofits in sales of nonperforming, government-guaranteed mortgages.

Hackers linked to the Iranian government launched a series of cyber-attacks on U.S. financial institutions including Bank of America Corp. and the New York Stock Exchange, federal prosecutors say.

JPMorgan Chase has partnered with Starbucks on a branded, prepaid rewards card, expanding its relationship with the coffeehouse chain.

Diebold has acquired enough Wincor Nixdorf shares to complete the purchase of its German rival, a deal that creates a maker of cash machines and systems with more than $5 billion in sales.

Not all energy loans are created equal. For a host of reasons, oilfield services loans are more risky than other types of energy loans, according to Megan Snyder, an analyst with Moody's.