Banking

This week's White House Summit on cybersecurity at Stanford University comes at a pivotal time for payment and security professionals, who have an opportunity to cooperate to fight Internet crime.

American Express, the biggest U.S. credit-card issuer by customer purchases, said its co-brand and merchant agreements with Costco Wholesale in U.S. stores will end next year.

American Express Co., the biggest U.S. credit-card issuer by customer purchases, said its co-brand and merchant agreements with Costco Wholesale Corp. in U.S. stores will end next year.

ApplePie Capital, a new marketplace lender that specializes in lending to franchises, has officially opened for business.

First Green Bancorp in Mount Dora, Fla., has raised nearly $14 million through a private placement.

Citi has formed a digital marketing alliance with online real estate marketplace Zillow in a bid to reach more customers in the financial services company's priority cities, the company announced Feb. 10.

Top executives from Bank of America, U.S. Bancorp, American Express, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday.

Bank of the Ozarks in Little Rock, Ark., and WesBanco in Wheeling, W.Va., each completed acquisitions this week.

Temenos, a Geneva-based provider of core banking software to the financial services industry, has acquired Akcelerant, a financial services software company based in Philadelphia.

The FDIC welcomed seven new members to a committee on Wednesday that will provide recommendations on policy and regulatory issues affecting community banks.

No one can agree on what the Fed will do with interest rates. In the meantime, the banking industry's more-conservative players are devoting more resources toward hoarding low-cost deposits and purging shorter-term borrowings.

Westpac New Zealand is launching a new "omnichannel" powered by responsive design technology and offering its customers Moven's money management tools, two firsts for the industry.

PayItSimple USA Inc., which enables installment payments for merchants and consumers, has integrated with online payment processor Stripe.

GOP lawmakers on Wednesday harshly criticized the Federal Housing Administration's recent move to lower insurance premiums, saying it violates the law and will be used to entice borrowers into predatory loans.

United Community Banks in Blairsville, Ga., has solidified Lynn Harton's hold as the eventual successor to Chief Executive Jimmy Tallent.

The central bank is floating the concept of using the Internet to facilitate the direct clearing of transactions between financial institutions, which would likely diminish its own role in the U.S. payment system.

Metro Bancorp, which has been fielding calls to sell itself for nearly a year, disclosed that CEO Gary Nalbandian will take a medical leave to undergo bypass surgery. Metro's executive team will be tasked with an ongoing effort to improve performance and remain independent.

An estimated 77 million Americans have a debt in collections, or about 35% of consumers with credit files or data reported to a major credit bureau, according to a joint study, which noted that the positive impact of collections is expected to increase.

U.S. Bancorp in Minneapolis has appointed Amy Hurd as head of its in-store and on-site banking division.