Banking

The South Carolina bank has been shedding assets in recent months after suffering millions of dollars in losses in recent years. The bank ousted its management team last year due to poor financial performance and conflicts with investors.

Credit reports and credit scores are valuable tools in the financial services industry. But many consumers could use more education in this area.

Banks need to keep a lid on personnel-related expenses. But many of them are missing out on opportunities to dig deeper into the data and determine the appropriate hours and staffing for their retail locations.

U.S. banks enjoyed their ninth straight quarter of total profits exceeding $35 billion, according to the Federal Deposit Insurance Corp.'s first-quarter report on the industry's health. The FDIC said the growth in net income was "broad-based", spurred by a solid increase in net operating revenue, while community banks once again outpaced the industry at large. Here are some key takeaways.

With more than 1,300 U.S. branches and a Canadian parent company, TD Bank hardly qualifies as a community bank. But the institution is trying to underscore its local-bank bona fides with marketing campaigns touting its support of neighborhood causes.

A growing number of banks employ chief marketing officers who manage multimillion-dollar budgets and are involved in high-level corporate decision-making. The pressure's on to come up with creative ways to differentiate their brands and connect with customers.

Aside from shoestring budgets, the biggest problem for many community banks is that their marketing programs have gone stale, experts say. For too many, marketing remains bounded by three time-worn pillars: advertising, direct mail and public relations.

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The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central bank’s efforts to improve the national payments system.

The Office of the Comptroller of the Currency has fined Bank of America $30 million for allegedly violating consumer protection rights of U.S. military service members while collecting debts.

Former Wells Fargo Chief Executive Richard Kovacevich on Friday said that "regulation is killing small banks."

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a call for a small-business loan brokers' code of ethics and why Congress needs to level the playing field for investors in bank obligations.

A specialized Wells Fargo branch in Des Moines and the nonprofit Digital Finance Institute are part of a small but growing movement to improve access to financial services for emigres who have escaped war or persecution.

While other banks build fancy modern skyscrapers or look to shrink the size of their branches, Dollar Bank in Pittsburgh has poured its resources into restoring a 144-year-old building downtown. The bank says the building's fame gives it a marketing edge.

American Express Co. President Ed Gilligan died Friday morning after becoming ill on a flight to New York.

In the second part of a three-part conversation, CommonBond Chief Executive David Klein weighs the competing goals of gaining market share and posting a profit in the nascent marketplace lending industry.

A Florida court on Friday sided with the Consumer Financial Protection Bureau and the state over claims that a law firm charged illegal fees to consumers seeking foreclosure relief.

The Fed finalized a rule increasing an asset-size threshold that lets smaller banks finance deals with up to 75% in debt. That benefit, along with an exemption from Basel III capital rules, could prompt some bankers to second-guess short-term growth as they weigh their options.

First Bank in Wilmington, N.C., opened a new branch in Jacksonville, N.C., earlier this week, that was designed to be environmentally friendly.

Wells Fargo will lay off 89 workers at its legal-order processing group in Philadelphia.