Banking

Bryn Mawr Bank in Bryn Mawr, Pa., has bought Robert J. McAllister Agency. The $2.2 billion-asset company did not say what it paid for the Philadelphia-area insurance and risk management agency.

Jacob Dienelt, a former financial adviser at Morgan Stanley, has joined Factom, a cryptocurrency tech startup, as its head treasurer.

Malicious software that blows past antivirus software undetected, combined with sophisticated social engineering (i.e. tricking employees of bank customers into divulging information), have enabled criminals to steal $500,000 to $1 million at a time, security experts say.

The shift in market composition is fueling concerns that if defaults rise, the Federal Housing Administration would have a harder time making lenders eat the losses on poorly underwritten loans.

A key deadline for anti-fraud card technology is prompting more retailers and banks to take a hard look at mobile payments platforms.

Merchants are making a new argument in their years-long battle with banks over swipe fees, saying Apple Pay has locked them out of additional routing options mandated by Dodd-Frank.

DNB Financial in Downington, Pa., has formed a business banking services division.

Millennials were rocked by the Great Recession and excessive student loan debt. Now older members of this generation are finally coming into their own — which means they're also getting mortgages, opening credit cards and saving for retirement.

The Center for Responsible Lending (CRL), in a recent study of payday lending in one state, found that nearly half of all borrowers default on a loan within their first two years of borrowing.

Marketers who helped promote an alleged home loan modification scheme will be banned from the mortgage relief and debt relief industries under a court settlement.

Four Oaks Fincorp in North Carolina has a new president.

HMN Financial in Rochester, Minn., has agreed to buy certain assets and liabilities of Kasson State Bank.

BOK Financial in Tulsa, Okla., has named its new chief credit officer.

An "unexpected" regulatory delay has forced M&T Bank in Buffalo, N.Y., and Hudson City Bancorp in Paramus, N.J., to delay their merger for the fourth time.

Fees for prepaid debit cards have shifted in the last year, with some transaction charges becoming less common while automated-teller-machine fees rose, according to a new study.

Fees for prepaid debit cards have shifted in the last year, with some transaction charges becoming less common while automated-teller-machine fees rose, according to a new study.

IMGCAP(1)]

Encryption still vastly outpaces tokenization as a means of defending data in the cloud, according to a new report from a cloud data cybersecurity firm, CipherCloud.

The last Australian bank providing remittances to Somalia stopped this week, mirroring similar pullouts by U.S. banks that have endangered a crucial source of financial support for the African country.

Industry groups are crying foul over how a Consumer Financial Protection Bureau proposal to regulate prepaid cards would affect overdraft services and treat virtual currencies.