Banking

KeyCorp has named Mark Danahy president of its mortgage operations. Danahy had been managing director of Citigroup's U.S. mortgage operation from July 2011 to May 2014 and, before that, was president and chief executive of PHH Mortgage.

Two years after Citigroup was punished for widespread foreclosure abuses, the bank is dealing with another misstep: Thousands of people who were entitled to settlement checks never got any money.

Farmers Capital Bank in Versailles, Ky., has been freed from a regulatory order.

Triumph Bancorp in Dallas has purchased several entities that the Federal Deposit Insurance Corp. retained after the failure of Doral Financial in Puerto Rico.

Citigroup Inc. reached a deal to issue most of its global consumer credit and debit cards on MasterCard Inc.'s network.

Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline.

The 10th Circuit Court of Appeals today revived the National Credit Union Administration's suit against Barclays Capital that claims the bank misrepresented more than $555 in mortgage-backed securities that led to the failure of two corporate credit unions.

Correspondent banking has long relied on a costly, multistep process to settle transactions. Now banks must weigh whether to adopt cryptocurrency technology that allows for faster, cheaper settlements or risk getting pushed out of the business entirely.

California assemblyman Matt Dababneh, D-Encino, has proposed AB 1326, a bill that provides guidelines for any individual or business that wants to start using virtual currency.

BBVA has spent about $3.6 billion on technology since 2011 to expand online and mobile-banking services and prepare for what its chairman Francisco Gonzalez has described as an existential threat from firms like Google, Facebook and Amazon.

ALEXANDRIA, Va.—The 10th Circuit Court of Appeals today revived NCUA's suit against Barclays Capital that claims the bank misrepresented more than $555 million in mortgage-backed securities (MBS) that led to the failure of Western Corporate FCU and U.S. Central FCU.

Roughly 12.7 million Americans were hit with identity fraud in 2014, a 3% drop from a year earlier, while losses tied to that fraud fell 11% to $16 billion, said the study, which was released by Javelin Strategy & Research.

Here's the sales pitch: use the service as much as you want for a flat monthly fee of under $10, potentially saving money over paying per transaction. It sounds like Netflix, but it's a new and fairly unconventional approach to how Cardtronics is selling ATM access.

The trade group's leader touted progress in areas such as qualified mortgages and flood insurance, but he also encouraged members to keep speaking out against overzealous supervision.

HomeTrust Bancshares created a special call center and encouraged tellers to invite ATM customers inside the branches to answer questions and to differentiate the company from Bank of America in terms of fees.

There was plenty for banks to be encouraged about in the Federal Deposit Insurance Corp.'s most recent Quarterly Banking Profile, which reported comprehensive industry earnings for the fourth quarter and all of 2014. Community bank lending is showing steady growth, capital levels keep rising and the FDIC's insurance reserves are stabilizing. But the numbers also contained worrisome signs. Here are key takeaways from the report.

The Wisconsin bank's cautious approach to technology and other innovations says a lot about its overall philosophy. It is treading carefully on Apple Pay, marketplace lending and other cutting-edge items while it is encouraged by its customers' switch to electronic banking.

JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses.

The $691 million-asset Howard will pay $10.1 million, or $5.09 a share, in cash and stock for the $226 million-asset Patapsco.

Unique Management Services is handling collections for the Hamilton Township Free Public Library in New Jersey, which is owed an estimated $200,000 in unpaid fines for overdue books and materials. The collection agency contracts with large public libraries nationwide.