Banking

Promontory Financial vowed to take the New York Department of Financial Services to court after it effectively banned the consulting firm from working on regulatory issues for banks the department supervises.

Millennials are beginning to take on more auto and student loans but are lagging in their use of credit cards and are slower to build some types of credit compared to Generation X and Baby Boomers, a report from Experian reveals.

The appearance of consumers’ account numbers on the outside of envelopes containing letters from collection agencies does not violate the FDCPA, two New York federal judges ruled in separate cases.

Citigroup is being investigated over its student-loan servicing practices in a probe that the bank said echoes an enforcement action against at least one other institution.

Payment system transformation has become a pressing need for banks today. The rate at which this is happening is largely controlled by the conflict between rapid technological shifts and the barriers to product acceptance.

HSBC Holdings Plc's first-half profit beat analysts' estimates, buoyed by income from Asia and securities trading, and the bank agreed to sell its Brazilian operations for about $1 billion more than expected.

Glacier Bancorp in Kalispell, Mont., has agreed to buy Cañon National Bank in Cañon City, Colo., for $31.8 million.

Driven by greater demands to help meet business goals, these CIOs share some of the tactics that have helped them win friends and allies in other departments and move big projects forward.

Security and online and mobile banking rose to the top of bank CIOs' priority lists this year, according to a proprietary survey by American Banker and SourceMedia Research.

A survey of 50 bank CIOs conducted by American Banker found CIOs' daily lives are still dominated by the need for state-of-the-art customer-facing technology, security concerns and concerns around business strategy and revenue growth.

The National Credit Union Administration's plan to liberalize its rule governing member business lending has touched a raw nerve inside the community banking industry.

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A recap of the informed opinions (and the discussions they generated) on BankThink this week, including whether independent consultants should be criminally liable for misrepresentations in their reports and whether higher rates will help or hurt banks.

An NCUA proposal to make credit unions more competitive commercial lenders is drawing fire from community bankers, who say it invites risky underwriting, unfair competition and a repeat of the thrift crisis.

Lawmakers included a measure that will impose new mortgage reporting requirements on banks and servicers as part of a short-term highway funding bill passed this week by both chambers of Congress.

Marlin Business Bank has launched a new site to compete with alternative lenders such as OnDeck and Kabbage, which specialize in providing quick and convenient access to small-business credit.

Taking their typical cautious approach, bank CIOs say they'll take their time testing Microsoft's new operating system before rolling it out in offices and branches.

Investors Bancorp in Short Hills, N.J., reported higher second-quarter profit on expanded multifamily, commercial real estate and business lending, as well as lower expenses.

Fourth Corner Credit Union, chartered last year to serve Colorado's legal marijuana industry, has filed lawsuits against the National Credit Union Administration and the Federal Reserve after having its applications rejected for share deposit insurance and access to the Fed system, respectively.

A Consumer Financial Protection Bureau plan detailing ways to protect consumers from payday lending "debt traps" has earned widespread support from Americans, according to a survey by Pew Charitable Trusts.