Banking

The $3.2 billion-asset HomeStreet will pay $128 million in stock for the $870 million-asset Simplicity, the companies said in a press release Monday.

ICANN, the governing body for Internet domain names, has given fTLD Registry Services the authority to operate the ".bank" domain name.

The Federal Deposit Insurance Corp. has ordered Merrick Bank in South Jordan, Utah, to pay $16.1 million to settle charges related to the marketing of a credit card add-on product.

Citigroup's new CitiDirect BE Tablet app for Windows 8.1 was announced today at Sibos. It looks and feels quite a bit like a consumer mobile banking app, just with support for more accounts and much larger dollar amounts.

Community banks and credit unions have filed class actions against Home Depot and Target, using untested legal arguments to claim the retailers should pay banks’ expenses tied to recent data breaches. There is very little legal precedent here, and hundreds of millions of dollars could hinge on the court rulings in these cases.

Banks have increased fees for overdrafts and out-of-network ATM transactions in the past year, according to data released Monday by Bankrate.com.

California Gov. Jerry Brown signed the Electronic Benefits Transfer Protection and Empowerment Act, AB 1614, on Sunday. The law includes a requirement that recipients of the California Work Opportunity and Responsibility to Kids welfare program must receive information that helps prevent ATM fees being charged against them when accessing their benefits.

Consumer spending recovered in August as steady income growth and employment gains led more Americans to auto dealerships and retail stores, the Commerce Department said Monday.

More banks are competing for underserved customers and working to understand millennials as a group that's full of potential, according to speakers at a recent American Banker conference.

WASHINGTON — Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday.

Bank of America has agreed to pay $7.65 million to settle charges that it overstated its capital levels because of incorrect accounting from its 2009 acquisition of Merrill Lynch.

Circle Internet Financial, a Bitcoin startup, has launched its Web-based consumer wallet product out of beta for general availability globally.

The U.S. Department of Defense has issued a proposal that would expand the types of credit products that are covered by the 36% rate cap and other military-specific protections under the Military Lending Act.

Popular in San Juan, Puerto Rico, has made a few changes to its management team.

Banks will listen carefully to what regulators say next about virtual currency in the U.S., but in the meantime many financial institutions view Bitcoin as far too risky to touch.

UBS AG (UBSN), Switzerland's biggest bank, said it may be hit with "material" penalties after authorities investigating alleged manipulation of foreign exchange markets started settlement talks.

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One in five consumers with bank accounts also use high-interest, alternative financial products, according to a recent survey from TD Bank.

Banks, credit unions, payday lenders and installment lenders are likely to feel the impact of restrictions on loans to members of the military that the Defense Department has proposed.

Old Line Bancshares in Bowie, Md., is planning to close four branches.