Banking

A week after making Discover the first credit card offered in its mobile bill-pay service, PreCash Inc. has already seen a spike in the use of Evolve Money, which previously accepted only debit cards.

A secondary market system "dominated by Fannie and Freddie in conservatorship is simply not desirable," Castro says.

The bank's fourth innovation office will focus on disruptive technologies such as cloud computing, Big Data and the internet of things.

Carver Bancorp in New York said Deborah Wright will retire as chief executive at the end of the year. The company's current president will succeed her.

In-store branches are a good example of the quandaries in retail banking. BOK Financial calls them outdated and has decided to ditch them, but Huntington and Fifth Third say they are high-volume sources of new accounts.

Some bankers have pronounced the data warehouse obsolete, but Dr. Jim Goodnight says it's more relevant than ever, as cheaper hardware and overlapping informational needs across the organization make sharing a large dataset companywide feasible and worthwhile.

An independent actuarial report showed the Federal Housing Administration's mortgage insurance fund's capital ratio hit 0.41% this year, which is below the earlier estimate of 1.2%.

John Hairston, set to become the Mississippi company's sole CEO, said Carl Chaney was not forced out as co-CEO. Still, he said the departure allows Hancock to streamline operations and become more efficient.

MSB Financial Corp., a mutual thrift firm in Millington, N.J., plans to reorganize into a fully stock-owned company.

Dallas officials are supporting a lender called Community Loan Center of Dallas that is designed to allow participants an alternative to the payday lending industry that the city has long battled and heavily criticized.

First Horizon National in Memphis, Tenn., is looking to raise $400 million by issuing debt.

The U.S. Supreme Court agreed to hear two Bank of America Corp. appeals that seek to give lenders more leverage over homeowners who file for bankruptcy protection.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

Elan Financial Services will use MasterCard's common debit application identifier technology when processing transactions through its MoneyPass ATM network.

FleetCor Technologies has completed its purchase of business-to-business electronic payments provider Comdata.

California Republic Bancorp in Irvine, Calif., has raised $90 million through an offering of equity and debt.

A TransUnion analysis reveals consumers are moving to different homes at higher rates in the latter part of each year, suggesting that collection agencies might consider updating consumer contact information an additional time.

Wells Financial in Wells, Minn., has agreed to buy St. James Federal Savings and Loan Association in St. James, Minn.

BNC Bancorp in High Point, N.C., has agreed to buy Valley Financial in Roanoke, Va.

Banks needs to deeply understand the needs of their customers before they start rolling out ambitious high-tech plans.