Banking

The compliance costs associated with the CFPB's proposed reforms to the payday lending would force many small businesses to close shop, reducing access to short-term credit for many Americans.

Community banks should consider agreeing to higher capital standards in return for a simpler capital compliance regime, Federal Reserve Board Gov. Daniel Tarullo suggested Thursday.

Now that the Apple Watch has arrived, banks and technology companies are making a big effort on the wearable's small screen. Some are focused on alerts and budgeting; others take advantage of the device's unique hardware.

Wells Fargo has launched a tool that helps small business owners create and update business plans.

Financial industry groups are supporting the effort to stop the Pentagon from issuing new regulations on high-cost lending this year, while congressional Democrats and consumer groups are decrying it.

Royal Bancshares in Narberth, Pa., could have taken large writedowns and burned through capital to erase millions of dollars in bad assets. But management decided to hold onto those assets as it slowly ran off loans in a pair of shuttered business lines.

New York Gov. Andrew Cuomo and New York Superintendent of Financial Services Benjamin Lawsky today proposed new regulations for the title insurance industry, including restrictions on meal and entertainment expenses.

Comerica in Dallas has promoted Curtis Farmer to president.

As Facebook and Google increasingly become de facto managers of consumers' online identities, some wonder if another, more trusted party, such as banks or the government, should step up and take on this role.

Coinbase, a U.S.-based Bitcoin exchange with many prominent merchant clients, has spread its services into the U.K. where bankers and regulators have been more welcoming of digital currency innovations.

The unit, which lends to private equity-backed companies and includes GE Antares, has long been a major force in the middle market.

New York Community Bancorp in Westbury reported higher quarterly profit, though it continued to sell loans to stay below $50 billion in assets.

Pinnacle Financial Partners in Nashville, Tenn., has agreed to buy Magna Bank in Memphis, Tenn.

The fact that ATM fee hikes still cause controversy shows consumers still demand ATMs, even in an era when payments and other transactions seems to be moving to a mobile platform.

A bill easing restrictions on the collection efforts of debt buyers won the endorsement of North Carolina's Senate Judiciary Committee in a voice vote Tuesday.

Regions Financial will pay a $7.5 million fine after the Consumer Financial Protection Bureau said it charged consumers illegal overdraft fees on checking and payday-loan-like accounts.

A former JPMorgan Chase employee was arrested by the FBI on charges of stealing customer data and trying to sell it to an undercover informant for tens of thousands of dollars.

Banks in Baltimore seem to have avoided the worst of the violence in the city's riots, though that's partly because they have few branches in some of the affected neighborhoods.

United Bankshares in Charleston, W.Va., reported higher profit more than a year after announcing a key acquisition.

Flagstar Bancorp in Troy, Mich., beat expectations as it reported stronger mortgage volume in the first quarter. The company reported net income of $31.5 million in the first quarter versus a profit of $11.1 million in the previous quarter and a loss of $78.4 million a year ago.