Banking

The New York State Department of Financial Services gave a third virtual currency company the green light to begin operations in the state.

U.S. bankruptcy filings totaled 629,570 in the first nine months of the year, an 11% decrease from the 705,728 total filings during the same period a year ago, according to the American Bankruptcy Institute.

Santander Group, the Spanish banking giant, has invested several million dollars in Ripple, one of the most prominent startups in the hotly discussed field of distributed-ledger technology.

Synechron, a consulting firm to the financial services industry, has acquired Crossbridge, a London-based consulting firm.

Santander Group, the Spanish banking giant, has invested several million dollars in Ripple, one of the most prominent startups in the hotly discussed field of distributed-ledger technology.

What happens when big banks move into a market? Is it a good idea to partner with online lenders? How much of a problem are ag loans? Those questions were among the many addressed by researchers at the recent community banking conference in St. Louis hosted by the Federal Reserve and Conference of State Bank Supervisors.

Hancock Holding in Gulfport, Miss., has agreed to buy a portfolio of health care loans from United Community Banks in Blairsville, Ga.

A fintech startup that wants to change the way lenders and consumers square bad debts has raised $10 million in financing from a group of prominent investors.

After unveiling an online loan for subprime borrowers in July, ZestFinance announced Tuesday that it has raised $150 million in debt to finance the product’s growth.

The term has gone from a common brand name to a catch-all for innovative technologies in financial services to a somewhat patronizing plural noun to describe startups and their founders.

Bank of Nova Scotia's online platform will introduce its first credit card Tuesday, according to people with knowledge of the matter.

First Cecilian Bancorp in Cecilia, Ky., has agreed to buy Farmers Bancshares in Hardinsburg, Ky.

CenterState Banks in Davenport, Fla., has agreed to buy Community Bank of South Florida in Homestead.

An initiative underway at Freddie Mac seeks to integrate new and existing technology to create a comprehensive suite of quality control tools designed to help lenders manage their mortgage repurchase risks.

The New York State Department of Financial Services on Monday gave a third virtual currency company the green light to begin operations in the state.

Swift CEO Gottfried Leibbrandt talks about how the global messaging network is looking to stay relevant to its bank members; the potential and limitations of blockchain technology; and his views on the startups looking to disrupt banking.

A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

Borrowers are faced with two terrible choices: take out another exploitative loan because of the shortfall created by the first, or face a range of catastrophic consequences associated with defaulting.

The head of a sham debt relief operation agreed to a judgment of more than $7.9 million to settle Federal Trade Commission charges that he deceived consumers and charged them thousands of dollars while providing nothing in return.

If we can't identify adequate capital to bear mortgage credit losses when they are incurred, aren't we setting ourselves up for another series of bailouts in the next housing downturn?