Banking

Investors taking over delinquent mortgages backed by Fannie Mae and Freddie Mac must work harder to reach deals allowing borrowers to keep their homes, according to new rules that are a nod to housing advocates who complain that investors often treat homeowners unfairly.

The Federal Housing Finance Agency released a set of new rules for the sale of troubled mortgages by Fannie Mae and Freddie Mac.

The California company has poached lenders from larger rivals, while expanding into specialty finance lines. Those moves have positioned Opus for a growth spurt that should outpace organic growth at most other community banks.

Banks have to invest in mobile technology in order to keep up with millennials. But bankers also need opportunities to rub shoulders with young customers — and small, conveniently situated branches give them an opportunity to do so.

Cambridge Bancorp in Massachusetts will soon have a new president and chief executive.

JPMorgan Chase & Co., Lockheed Martin Corp. and Microsoft Corp. are among 32 technology, banking and retail companies urging lawmakers to pass legislation that provides legal protection for sharing hacking threats.

MUSKEGO, Wis. — Jim Schrimpf has retired from his position on the board of directors at Corporate Central CU here, with Jay Magulski set to take his place on the corporate CU's board.

Springleaf Holdings Inc., the U.S. consumer lender that sold stock to the public in 2013, agreed to buy Citigroup's subprime lender OneMain Financial for $4.25 billion in cash.

Sterling Bancorp in Montebello, N.Y., has acquired payroll funding firm Damian Services Corp.

WSFS Financial in Wilmington, Del., has agreed to buy Alliance Bancorp Inc. of Pennsylvania in Broomall.

Wintrust Financial in Rosemont, Ill., has agreed to buy Community Financial Shares in Wheaton, Ill.

Ocwen Financial Corp. recorded an additional $50 million expense tied to a settlement with New York’s financial regulator and expects to take a non-cash goodwill charge of as much as $420 million in the fourth quarter.

PacWest needed deposits to fuel its lending machine. Square 1 was drowning in liquidity. Similar deals could be in the works as low-cost deposits become more valuable in light of likely interest-rate increases.

To court young talent, banks are reimagining their ads for positions like call center agents and video tellers as YouTube clips. They are also finding ways to make applications easier to fill out on mobile devices.

A hedge fund is pressuring Webster Financial in Waterbury, Conn., to consider spinning off its health savings account division.

The U.S. Education Department, citing "inaccurate representations" to student-loan borrowers, will end debt-collection contracts with Navient and four other companies.

A Google executive has confirmed the company has established Android Pay, a previously rumored platform upon which developers can build payments into applications.

Home Bancorp in Lafayette, La., has converted from a federal savings bank to a national bank charter.

International remittances grew at a number of banks last year, according to new data, but anti-money-laundering rules may make the fee-based business too expensive to keep.

The Texas banker, who chaired the ICBA during the financial crisis, feels much better about the regulatory environment for smaller banks. She just wishes that interest rates would finally rise.