Banking

Splitit has expanded its interest-free installment payments technology to health care providers, enabling their patients to receive instant approval to finance health care costs through their Visa or MasterCard credit cards on file.

Discover Financial Services reported a slowdown in growth in its credit card business but vowed to take steps to reverse the trend.

East West Bancorp in Pasadena, Calif., said higher income taxes and lower interest income were partly to blame for a 3.87% drop, to $91.8 million, in its fourth-quarter profit.

TCF Financial in Wayzata, Minn., reported higher profits on lower provision costs and a pickup in lending in the fourth quarter.

Discover Financial Services reported a slowdown in growth in its credit card business but vowed to take steps to reverse the trend.

Unless banks devote the same amount of investment as standalone incubators, the innovation labs launched by financial institutions will be a short-term fad.

C.K. Hong used his resignation letter to issue a scathing rebuke of the Los Angeles company's $1 billion acquisition, while claiming that he had been on a "dysfunctional board … characterized by factionalism and a lack of transparency." BBCN strongly disagreed, claiming that Hong was upset that plans were already in place to remove him from the board.

DeVry Education Group responded Wednesday to a complaint filed by the Federal Trade Commission alleging that consumers were deceived about the chances of students finding jobs in their areas of study.

First Citizens BancShares in Raleigh, N.C., said Wednesday that its fourth-quarter profit fell 32.1% from a year earlier, to $42.7 million.

Kevin Thompson, who had been selected for the post in November, notified the $6 billion-asset company that he will remain at Zions Bancorp. in Salt Lake City to be near members of his immediate family who were involved an accident shortly after he accepted the WSFS post.

Discover Financial Services reported a slowdown in growth in its credit card business but vowed to take steps to reverse the trend.

Umpqua Holdings in Portland, Ore., posted stronger quarterly earnings because of an increase in mortgage banking fees and lower costs.

Centrue Financial in Ottawa, Ill., has agreed to sell three branches in Illinois.

Chargeoffs jumped 13% at the Dallas lender, and its warning that they could increase further because of deterioration in subprime auto lending set off alarm bells about the broader consumer finance market.

Moven, the digital-only "neobank," is partnering with online lenders as part of an effort to differentiate its services and become its users' go-to app for financial transactions of all sorts. Banks ought to pay close attention to this rebundling effort.

Amid concerns about the added complexity of the TILA-Respa integrated disclosures and growing demand for purchase loans, Flagstar Bancorp plans to reduce its over-reliance on third-party originations by expanding its retail mortgage business.

The combination of falling stock prices, higher-risk strategies and signs of worsening credit quality does not bode well for the industry's road ahead.

The FTC has filed suit against the operators of DeVry University, alleging that DeVry’s advertisements deceived consumers about the likelihood students would find jobs in their fields of study and would earn more than those graduating with bachelor's degrees from other institutions.

TransUnion’s first-ever personal loan forecast found that both secured and unsecured loans will see balance increases and stable delinquencies this year. The strong performance is expected as the popularity for the products continues to rise among prime consumers.

Navient, a loan management, servicing and asset recovery company that services approximately $300 billion in student loans, released fourth-quarter and full-year financial results that reveal total delinquency rates are at the lowest levels in a decade.