Banking

The Federal Reserve and JPMorgan Chase were far apart last week in how much revenue the company would be making after the kind of economic shock envisioned in the Dodd-Frank stress test. The gap has JPM observers cautiously awaiting the results of this week's CCAR test.

New York's Amalgamated Bank is hoping to do more business with political action committee and left-leaning customers as its retail business shrinks.

Jeffrey Robinson is hardly a fan of Bitcoin (the title of his latest book, "BitCon," kind of gives it away.) But as the author of a classic 1990s book about money laundering, even he says that Bitcoin is a terrible tool for that particular crime, despite the digital currency's reputation. He explains why in the second part of a conversation with American Banker's Marc Hochstein.

U.S. credit card debt jumped by $57.1 billion - up 47% - in 2014 compared to 2013 and the forecast calls for the total to reach $60 billion this year, according to a new survey from CardHub.

Joseph Stilwell hopes a fourth challenge against Harvard Illinois Bancorp is successful.

MSB Financial, the holding company of Millington Savings Bank, has filed to pursue a mutual-to-stock conversion.

When regulators use asset size as a yardstick, they impose unnecessary rules on larger financial institutions that employ traditional banking models.

The three leading U.S. consumer credit reporting agencies agreed to make sweeping changes to correct errors and improve accuracy of reports as well as to increase protection for consumers with medical debt.

Fauquier Bankshares in Warrenton, Va., has begun a search to find its next president and chief executive.

CertusHoldings in Greenville, S.C., has agreed to sell its small business finance unit to BankUnited in Miami Lakes, Fla.

Veritex Holdings in Dallas has agreed to buy IBT Bancorp in Irving, Texas.

Credit-reporting giants Equifax Information Services, Experian Information Solutions and TransUnion will change the way they handle errors and treat medical debt after reaching a settlement with New York Attorney General Eric Schneiderman.

A bill to replace the Consumer Financial Protection Bureau’s director leadership with a bipartisan commission appointed by the president was introduced by Rep. Randy Neugebauer (R-Texas), chairman of the Financial Institutions and Consumer Credit Subcommittee and a member of the House Financial Services Committee.

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Social Finance Inc., the online-lending platform known as SoFi, is planning an initial public offering that would value the company at $3.5 billion, people with knowledge of the matter said, almost triple what it received in a recent funding round.

Banc of California in Irvine got a shot in the arm from its acquisition of 20 Popular Community Bank branches in the fourth quarter.

Recent studies show financial services companies increasingly use cloud services. But behind the numbers, there are a range of attitudes toward cloud computing, from warm embrace to full-on paranoia.

Bank of America has hired former Duke Energy executive Brett Carter as chief operating officer for its global technology and operations unit.

Two activist groups are urging the Fed and OCC to investigate whether OneWest used donations and other sweeteners to buy community support for its sale to CIT.