Banking

Santander Bank will change its customer screening policies to allow more lower-income applicants to open checking and savings accounts.

The Subsidy Reserve Act of 2015 could solve "too big to fail" and level the playing field for smaller banks by requiring the largest financial institutions to accumulate capital equal to the amount of the market subsidy they receive.

Citigroup Inc. said Manuel Medina-Mora, the bank's co-president and head of global consumer banking, will retire on June 1.

Gemalto NV, the largest maker of mobile- phone cards, said it's investigating a report that U.S. and U.K. spies allegedly hacked into its computer network to steal the keys used to encrypt conversations, messages and data traffic.

Fannie Mae reported net income of $14.2 billion last year, a sharp decline from the record $84 billion in 2013 that was inflated by accounting for tax credits.

CoBiz Financial in Denver plans to shutter its investment banking unit by the end of March.

Members of System United Corporate Federal Credit Union (SunCorp) voted "overwhelmingly" to approve a proposed merger with Alloya Corporate FCU, the two corporates said on Thursday.

If you thought American Express' loss Thursday of a big antitrust case would help its rivals, think again. Visa, MasterCard, and even card-issuing banks could be hurt by the race to lower merchant fees that the ruling will set off.

The chief financial officer of WSFS Financial in Wilmington, Del., is leaving the bank holding company for Seacoast Banking in Stuart, Fla.

The Consumer Financial Protection Bureau will continue its work to ensure credit reports are fair and freely given to consumers, agency director Richard Cordray said Thursday.

RIVERSIDE, Calif. — The two largest credit unions in Riverside County, Calif., on Thursday announced their intention to merge to create a $1.1 billion institution serving 118,000 members in the "Inland Empire" region of Southern California.

Talmer Bancorp in Troy, Mich., has paid billionaire backer Wilbur Ross $20 million to redeem warrants he has held in the company for several years.

CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had.

Greenfield Cooperative Bank in Greenfield, Mass., and Northampton Cooperative Bank in Northampton, Mass., have received regulatory approval to merge.

WASHINGTON — The Consumer Financial Protection Bureau will continue its work to ensure credit reports are fair and freely given to consumers, agency director Richard Cordray said Thursday.

Bank of Edwardsville in Illinois is set to have a new leader.

Online banking, ATMs and other advances have curtailed face-to-face transactions, but new Federal Deposit Insurance Corp. research says the brick-and-mortar office isn't going anywhere just yet.

The OTC Markets Group has opened up its community bank marketplace to privately held institutions, offering a chance for investors to monetize their holdings without selling the bank.

Auto lending surged to an all-time high in the fourth quarter yet delinquencies remained low, Experian said in a report issued Thursday.

At least two financial services groups say none of their U.S. bank members have reported the existence of Carbanak malware in their networks, suggesting the threat may not be significant.