Banking

For all the excitement about the blockchain's potential to shake up the financial industry, few people understand how it works. The really revolutionary part of the blockchain process is how miners manage to keep records of transactions accurate and tamper-proof.

New York Community Bancorp Inc. Chief Executive Officer Joseph Ficalora didn't have to pay taxes on $2.84 million in restricted stock he collected last year. His company picked up the tab.

Hackers may have breached a database with information on 1.1 million customers of CareFirst BlueCross BlueShield, a health insurer operating in Maryland, Virginia and the District of Columbia.

Nonbank servicers selling and buying Fannie and Freddie MSRs must meet new capital and liquidity requirement to transfer servicing.

Customers Bancorp will offer free financial coaching to customers of its mobile-banking product who maintain higher monthly deposits.

Capital One Financial is planning to beef up its mortgage lending and has hired industry veteran Desmond Smith to oversee the effort.

Fidelity Southern in Atlanta has agreed to buy the Florida branch network of First Banks Inc. of Clayton, Mo.

VidVerify, a new company started by a co-founder of Lenders One, produces online videos that educate borrowers on the milestones of the mortgage process, while helping lenders ensure regulatory compliance.

A handful of banks are upgrading their apps with Siri-like "virtual assistants" that understand spoken questions at a time when most institutions don't even let digital customers do typed keyword searches of their transaction data.

The three major credit bureaus agreed Wednesday to pay more than $6 million to 31 states to cover the cost of a three-year investigation into credit reporting errors.

Cuba has found a Florida bank willing to handle its future business in Washington, removing a major impediment to the communist country opening an embassy in the U.S.

Benjamin Lawsky, the New York regulator known for aggressive investigations and headline-grabbing fines against financial firms, is stepping down, and he reportedly plans to make a living offering banks and other companies advice.

With older appraisers retiring and fewer and fewer college graduates entering the profession, industry observers say that, in five to 10 years, there won't be enough appraisers to handle the volume of home sales. For lenders, that could mean higher appraisal fees and long delays in closing loans — at a time when technology could be speeding up the process.

The Korean-American bank is looking to diversify its balance sheet and revenue streams before it hits $10 billion in assets. The commercially focused lender hopes such efforts will help it once more regulation kicks in.

Former Citigroup executive Deborah McWhinney has joined the board of IHS, a provider of information on markets and industries worldwide.

Visa Inc. isn't expecting a near-term financial boost from processing domestic card transactions in China, even though the doors have finally opened up to do business in the massive Chinese market.

In the first part of a three-part conversation, CommonBond Chief Executive David Klein argues that large and small banks have different roles to play in the marketplace lending ecosystem.

The credit card delinquency rate remained steady in the first quarter while the average credit card balance per borrower fell, according to a new report.

The proposed legislation for regulatory relief seeks to roll back critical mortgage protections put in place to prevent another housing crisis.

Ohio Attorney General Mike DeWine filed a lawsuit Tuesday against a debt collection operation accused of threatening, harassing and misleading consumers.