Banking

Debt-buying giant PRA Group Inc., which purchases consumer debt from banks and other creditors, has named Deborah Cassidy as its chief information officer.

The Federal Trade Commission and the Office of the New York Attorney General will host an event on June 15, in Buffalo, N.Y. to discuss consumer protection issues with the debt collection industry.

First Niagara Financial Group in Buffalo, N.Y., said its first-quarter profit declined because of costs tied to its technology upgrade and lower spread income.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.

In another escalation of Quicken Loans' ongoing clash with the government, the Department of Justice on Thursday filed a lawsuit alleging shoddy underwriting by the company.

Hancock Holding in Gulfport, Miss., reported lower profit as low oil prices stymied loan growth in the energy sector.

City National Bank in Los Angeles said Thursday that its first-quarter profit climbed 14% from the same period last year, fueled by a surge in real estate construction and commercial lending.

House lawmakers approved two bills this week to foster greater information sharing between the private sector and government about cyber threats — and all eyes now turn to the Senate to see if legislation can finally be enacted.

Capital One Financial's earnings fell slightly in the first quarter when compared to a year earlier, as rising expenses outpaced revenue gains.

Columbia Banking System in Tacoma, Wash., tapped organic growth and its purchase of Intermountain Community Bancorp to post higher quarterly profit.

Heritage Commerce in San Jose, Calif., has agreed to buy Focus Business Bank. The $1.7 billion-asset Heritage Commerce will pay about $55 million for the $391 million-asset Focus, which is also based in San Jose.

Cybercriminals' distributed denial of service exploits are getting more targeted and sophisticated.

Demographic, cultural and technological changes will reshape customer service in the mortgage business over the next 30 years, a Wells Fargo executive said.

The growth-minded regional bank is biding its time until rates rise and its M&A deals close by slowing riskier types of lending and diversifying its income sources.

F.N.B. in Pittsburgh reported higher first-quarter profit on higher fee income and enhanced results from two acquisitions.

Regulators recently penalized a mortgage firm for keeping a file of licensing-test questions to prep exam takers, the first public challenge to what is believed to be a hushed, but longtime, industry practice.

Astoria Financial in Lake Success, N.Y., topped Wall Street expectations despite a drop in revenue. The $15.5 billion-asset company reported a 39% decrease in net income from a year earlier, to $19.3 million.

Convergent Revenue Cycle Management Inc., a national healthcare revenue cycle management provider, has announced that Mark Schanck has been promoted to company president.

Bill Emerson, chief executive of Quicken Loans, said at a recent conference that the threat of government probes and a lack of regulatory clarity are making FHA lending less attractive.

Banks that use biometric technology should remember to take client and employee privacy concerns seriously. After all, banks have a duty to protect personal information and prevent its potential misuse.