Banking

Officials with the Ohio attorney general’s collection-enforcement division report that approximately $34 billion in government debt owed by corporations and consumers is being pursued by 70 outside law firms and third-party agencies.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including how postal banking could help low-income people in the U.S. and the continuing debate over interchange fees.

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Pinnacle Bancorp in Central City, Neb., has agreed to buy Woodhaven National Bank in Fort Worth, Texas.

An open-source analytical engine called Spark is becoming popular in banking circles to get real-time insights on consumer transactions and the customers themselves.

The collaboration between financial institutions and technology firms runs deep, but banks' recent criticism of lax regulatory oversight for nonbanks reveals fissures.

Cardinal Financial made a big push into wealth management a decade ago. Today, it remains an inconsistent business, though management is optimistic about the future.

The CFPB is rewriting the rules for debt collection, and in the meantime fines and penalties are coming fast and furiously. Banks need to closely scrutinize every debt collector and debt buyer they do business with, or even bring collections back in-house, said attorney Joann Needleman.

Berkshire Hills Bancorp in Pittsfield, Mass., has named a new president and chief operating officer for its bank.

Four Oaks Fincorp in Four Oaks, N.C., has named Deanna Hart chief financial officer of the company and its bank.

Lenders that allow borrowers to shop for third-party settlement services face new liability, as the Consumer Financial Protection Bureau's integrated mortgage disclosure rules will let borrowers sue over problems with vendor lists.

Consumer spending gains in the second quarter helped the U.S. economy expand more than forecasted and may help the U.S. withstand a global slowdown, according to Commerce Department figures released Friday.

At a time when fintech companies and banks are struggling to draw more consumer interest in their apps, a Reno, Nev., startup is hoping to motivate underbanked consumers to pay bills, including overdue ones, via a friendly mobile experience.

The rankings of the Most Powerful Women in Banking and Finance include some familiar faces (KeyCorp's Beth Mooney of course), but also plenty of newcomers (including U.S. Bancorp's Kathy Rogers, JPMorgan Chase's Thasunda Duckett and Wells Fargo's Yvette Hollingsworth Clark). We also look at efforts to bring more women into boardrooms and have an op-ed by the CEO of HSBC USA.

Now a buzzword for disruptive technologies, Fintech was the name of a research project initiated by Citicorp in the 1990s, when the Citigroup predecessor was trying to shed its image of being "out of touch with market preferences."

Politicians who support the idea of banking as a public utility may not be very concerned with the fate of community banks. Rather than say so directly, they gloss over the facts.

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.

The Consumer Financial Protection Bureau has struggled internally with how to end potential discrimination in auto lending, including debating whether it should cite a large lender in the hope of effectively ending the ability of partnering dealers to mark up loans with all lenders.

The Consumer Financial Protection Bureau has struggled internally with how to end potential discrimination in auto lending, including debating whether it should cite a large lender in the hopes of effectively ending the ability of partnering dealers to mark up loans with all lenders.

Porter Bancorp in Louisville, Ky., has Edmond Seifried to its board. Seifried, 68, is executive director of the Sheshunoff Affiliation Program, which provides education and an idea exchange to community bankers.