Banking

Wall Street traders are already threatened by computers that can do their jobs faster and cheaper. Now the humans of finance have something else to worry about: Algorithms that make sure they behave.

Prosper Marketplace, one of the leading U.S. consumer marketplace lenders, announced $165 million in equity funding from large banks and other investors Wednesday.

The nation's largest banks are again under attack — this time over how they treat their own rank-and-file employees.

Mounting yet another defense of JPMorgan Chase’s size and scope, Chairman and CEO Jamie Dimon pointed out the fallibility of smaller banks in his annual letter to shareholders.

Independent lenders rebut suggestions that they pose a greater risk to FHA (and hence taxpayers) than the large banks.

The $5.8 billion First Financial said in a press release Wednesday that it will pay $1.9 million in cash for 4Trust Mortgage in a deal that should close next month.

As it launches instant payments using Dwolla, BBVA Compass joins a growing list of banks that are seeking "internal disruption" by giving innovative tech companies access to their inner workings.

WASHINGTON — The Consumer Financial Protection Bureau has filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to stop fraudulent collection tactics.

The agency announced Wednesday it had filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to detect fraudulent collection tactics. By including processors in its suit, observers said the CFPB's move resembles the Justice Department's Operation Choke Point.

Bitreserve, a payments startup that aims to give consumers the speed, transparency and cost advantages of Bitcoin without the currency fluctuations, hired a former Barclays executive as its president and chief operating officer, a newly created position.

The state's banking lobby is opposing a bill that would make it easier for thrifts to hold municipal deposits because the proposal would also let credit unions go after the same business.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself – and could soon be imitated by other Home Loan Banks.

Consumer borrowing to a record high in February, fueled by a large jump in auto and student loans. The value of non-revolving debt climbed by the most since July 2011.

Ninety-two percent of Americans are "very or somewhat confident" in their most recent big financial decision - such as picking a credit card, buying a car or refinancing a mortgage, according to a survey by the National Foundation for Credit Counseling and NerdWallet.

Washington Attorney General Bob Ferguson is suing Student Loan Processing and owner James Krause for allegedly charging consumers in the state “exorbitant and illegal” fees to help with their student loan debt.

Novantas, a New York-based bank advisory firm, has hired the former head of analytics for Bank of America.

Pinnacle Financial Partners in Nashville has agreed to buy CapitalMark Bank & Trust in Chattanooga, Tenn.

Mobile game apps are emerging to expose young adults and children to financial concepts and to help solve problems money management apps may be overlooking.

While financial institutions are apt to remain wary of the cryptocurrency and others like it, the industry is ready for more-controllable versions of its distributed-ledger technology, a new report argues.

The partnership with MAX Exchange is designed to enable community banks to sell their loans and get better pricing.