Banking

Meta Financial Group in Sioux Falls, S.D., has agreed to buy Fort Knox Financial Services, a software firm that helps independent tax firms process refund transfers.

A week has passed since the collections and credit world was turned upside down by the Federal Communications Commission when it issued a Declaratory Ruling and Order regarding the Telephone Consumer Protection Act. Now what?

Marlette Funding is set to announce Friday that it has raised $75 million from investors including a fund affiliated with the Invus Group, a private-equity firm, and Navient Corp. The money will mainly be used to keep a portion of the loans Marlette originates through its website, MyBestEgg.com.

CoBiz Financial in Denver has added the owner, chairman and chief executive of the Colorado Rockies baseball franchise to its board.

SunTrust Banks in Atlanta reported higher quarterly earnings after of a tax benefit and a decline in expenses more than offset a decline in revenue.

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 from our social media platforms.

Fifth Third Bancorp in Cincinnati named Lars Anderson chief operating officer Thursday, three days after he said he was resigning as a vice chairman at Comerica.

WASHINGTON — The Consumer Financial Protection Bureau released a monthly snapshot of its complaint database on Thursday, the first of what will be a series of monthly reports that dig deeper into the trove of data it collects.

The $625 million-asset company said in a press release Thursday that Greg Remus will become its CEO on Oct. 1. He will succeed Ray Lipman, who will remain chairman.

Umpqua Holdings in Portland, Ore., reported higher second-quarter profit, citing lower merger costs and growth in residential real estate lending and equipment finance.

The leak of documents from the surveillance software and "ethical hacking" firm Hacking Team revealed that some foreign banks were clients. Had any U.S. banks been on the list, the last two weeks would have been … interesting.

Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for toxic assets. After losing billions for years, Citi Holdings has now become a minor profit source for its parent.

First Niagara Financial Group in Buffalo, N.Y. has hired Peggy Yankovich to lead the commercial card and payments business of its treasury management group. Yankovich had been the global head of corporate cards, global payments & cash management at HSBC.

Upstart, a marketplace lender founded by ex-Google employees, has more than doubled its funding after receiving an investment from a group led by activist hedge-fund investor Dan Loeb. The company plans to use the funds to improve its underwriting analytics.

The Treasury Department launched an inquiry into the marketplace lending industry on Thursday, seeking information on its business models, customers and whether such firms should be forced to keep some "skin in the game."

The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.

Consumer Financial Protection Bureau Director Richard Cordray testified Wednesday before the Senate Banking Committee about the release of the Bureau’s seventh semi-annual report.

Washington Federal in Seattle reported higher quarterly profit due to gains from the sale of foreclosed properties and certain investments.

The Minnesota Commerce Department announced Wednesday that collection agency Tucker, Albin and Associates Inc. is facing a $500,000 fine for allegedly harassing and threatening small businesses in the state.

From Beijing to Paris to Dublin, peer-to-peer lending is blossoming. A quick look at the industry in various parts of the globe.