Banking

Village Bank in Midlothian, Va., has been released from an enforcement order issued by the Federal Deposit Insurance Corp. and Virginia Bureau of Financial Institutions.

The Federal Reserve's decision to raise interest rates for the first time in nearly a decade is said to be prompting at least one large bank to boost the rates it pays to depositors.

The popularity of data analytics has been building for a few years now, but expect more banks to look for ways to mine their data storehouses in 2016.

A London-based startup aims to allow consumers to use Bitcoin as a form of payment – even with merchants that haven’t started using the digital currency.

Frederick J. Hanna & Associates agreed Monday to pay $3.1 million to settle a CFPB lawsuit that alleged the firm illegally operated a debt collection lawsuit mill. The law firm has responded to the proposed settlement.

Goldman Sachs Group Inc. and JPMorgan Chase & Co. will probably benefit most from the coming wave of financial technology disruption, rather than being supplanted by startups driving the change, according to an Autonomous Research survey.

A proposal issued two weeks ago by the FHFA calls on the two government-sponsored enterprises to identify opportunities to increase their purchases of small multifamily properties in rural areas, sparking some concern among lenders.

CalWest Bancorp in Irvine, Calif., has raised $14 million through a private offering to recapitalize and to retire its Troubled Asset Relief Program funds.

Everyday investors provide marketplace lenders a cushion in case institutional buyers find greener pastures. But regulatory hurdles and an addiction to fast growth are making it difficult for the platforms to lure those coveted savers.

A trip to London reveals how far ahead British and other European regulators are in streamlining the licensing process for payments providers and other fintech firms.

Freddie Mac is one-upping Fannie Mae by offering to retain some home loans that have defects but without requiring that mortgage lenders pay a fee.

The Minnesota Department of Commerce is warning consumers about a debt collection scam where criminals are falsely using the name of a St. Paul, Minn.-based law firm to target victims.

Collection law firm Linebarger, Goggan, Blair and Sampson has prepared a report on its collection of tax delinquencies for a county in Texas.

Ken Karels has guided the South Dakota company through an initial public offering and its first acquisition in three years. He is worth watching next year as ag lending comes under pressure and as Great Western continues hunting for acquisitions.

Next year, look for banks to finally start putting mission-critical applications on public cloud services, with Capital One leading the way.

F&M Bank in Clarksville, Tenn., has named Tennessee banking veteran Brad Barrett to its board of directors.

The age of Google Glass may be over, but 2015 saw wearable technology emerge in more subtle forms such as watches, rings and other items that appear more trendy than geeky. The payments industry is working to make the most of this fashionable trend.

The more aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called "pick-a-pay" compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.

BofI Holding's CEO Greg Garrabrants should be basking in the glow of his bank's record earnings growth and its potentially transformative acquisition of H&R Block Bank. Instead, he's fighting to regain the confidence of shareholders spooked by allegations that the online bank violated anti-money-laundering laws.