Banking

Sure, the U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.

There’s no doubt that blockchain technology will facilitate disruptive innovations in finance, but a world of private ledgers sounds eerily similar to a range of “private Internets.”

UMB Financial in Kansas City, Mo., reported lower third-quarter profit, due to weaker revenue from its Scout Funds arm and merger costs.

A collection agency allegedly fraudulently collected more than $31 million from thousands of people across the U.S., a sum that could make it the largest collection scheme ever prosecuted.

The founder of an IPO services company that was sold this month to Nasdaq has lined up several investors for his new company, which will invest in bitcoin and blockchain developers.

Sure, the U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," the HUD Secretary Julian Castro said this week.

Nasdaq has unveiled its blockchain technology initiative. The platform uses blockchain technology to issue shares for privately held companies on the Nasdaq Private Market and record their transfers. Clients receive a comprehensive record of issuance and transfer.

CenterState Banks in Davenport, Fla., has agreed to buy Hometown of Homestead Banking Co. in Homestead, Fla.

United Community Banks in Blairsville, Ga., reported higher quarterly earnings despite costs tied to its purchase of Palmetto Bancshares in South Carolina.

The Senate approved a key cybersecurity bill Tuesday after several days of debate on the chamber floor — and several years of lobbying by business groups, including bankers.

First Capital was on Jim Cherry short list of recapitalization targets before the ex-Wachovia executive raised more than $150 million to rebuild Park Sterling in Charlotte. Park Sterling eventually agreed to buy First Capital earlier this month.

"At some point there will probably be a government agency telling us to do this. So why not start now?" says MultiFunding CEO Ami Kassar.

JPMorgan Chase entered the digital wallet wars in announcing Chase Pay, a product that will launch next year. Although mobile payments have been more bark than bite so far, the company says that its product plans to use loyalty programs to lure reluctant consumers.

Flagstar Bancorp in Troy, Mich., reported a third-quarter profit, as it originated more residential mortgages and recorded higher fee income.

A move by the National Labor Relations Board could force more legal liability on franchisors for actions taken by their franchisees. Some observers believe banks could become more reluctant lending to smaller franchisors until the issue has more clarity.

Old National Bancorp in Evansville, Ind., reported improved third-quarter profit on growth in fees and consumer and commercial real estate lending.

Customers Bancorp in Wyomissing, Pa., is building an online borrowing experience for its small-business clients.

First Northern Community Bancorp in Dixon, Calif., has exited the Small Business Lending Fund.

The Sixth Circuit Court of Appeals has ruled in favor of collection agency Van Ru Credit Corp. in a case involving a voicemail message left at a consumer’s business.