Banking

JPMorgan Chase will overhaul customer screening procedures to let more low-income consumers open checking and savings accounts under an agreement announced Tuesday with New York Attorney General Eric Schneiderman.

Citigroup failed one of the monitoring tests performed as part of the national mortgage settlement, according to new reports filed by NMS monitor Joseph Smith A. Jr.

Even if the U.S. government eases enforcement against banks processing wire transfers to developing countries, lawsuits brought by the plaintiffs' bar under the Anti-Terrorism Act may make banks continue to avoid providing remittance services to needy communities.

Hanmi Financial in Los Angeles has a new look for its retail bank.

Total mortgage origination balances hit $466 billion in the first quarter, a 74.4% increase from the same time a year ago, according to the latest Equifax National Consumer Credit Trends Report.

Equal-opportunity small business lending can go a long way toward helping minority groups rebuild the wealth lost during the Great Recession. The CFPB has delayed implementing reporting requirements that could close the credit gap for far too long.

PRA Government Services, an arm of debt-buying giant PRA Group, has launched an interactive tool designed to aid the understanding of complex city and county budgets.

Credit Protection Association LP has won a jury verdict in a case involving both the Telephone Consumer Protection Act and Fair Debt Collection Practices Act.

The issue of "credit invisibility" has attracted a great deal of attention in recent months. The Consumer Financial Protection Bureau released in May a study finding that 26 million Americans do not have a credit history, and another 18 million are unscorable because their histories are too limited.

The Bancorp in Wilmington, Del., again delayed the filing of its annual report after it found $24 million in additional loan losses that should have been reported in earlier periods.

As investment dollars flood into the alternative lending sector, fueling the rapid growth of early entrants such as Lending Club, lots of smaller online loan platforms are also popping up. Many of these new firms are specializing in narrow lending niches, touting their expertise in underwriting particular forms of credit. Here's a rundown of some of these specialties.

FHFA report shows FHLBs are well capitalized while Fannie and Freddie continue to see improving loan performance.

The Internet of Things, blockchains and smart (not "big") data could help financial institutions fend off disruption in lending, payments and money management, according to the Spanish bank's fintech mavens.

A federal district court temporarily halted an Orlando, Fla.-based operation for credit card robocall campaigns dating to 2011.

The NCUA is considering a plan that would let credit unions count certain forms of debt as capital. The plan, which would help credit unions book more loans, is drawing sharp rebukes from the banking industry.

JPMorgan Chase and Dexia agreed to settle a New York lawsuit over $1.6 billion of mortgage-backed securities. Terms of the settlement weren't disclosed in a June 26 court filing.

Xenith Bankshares in Richmond, Va. has issued $8.5 million in subordinated debt and plans to use the proceeds to exit the Small Business Lending Fund.

Community West Bancshares in Goleta, Calif., has filled a board vacancy with James Lokey, a former chief executive of several California community banks.

Community Bank Shares of Indiana in New Albany has changed its name to Your Community Bankshares.

Culture is measured in the good banks do for communities and customers, employees and shareholders. That kind of culture must be built over generations.