Banking

To win over younger customers, banks must offer free products that work straight out of the box, while also reducing red tape. To hire the best millennial-generation employees, banks need to appeal to younger workers' global values.

PHOENIX – Banks need to convert their ATM fleets into modern financial services kiosks that become new profit centers because legacy payments systems are looking more out of touch with modern expectations.

Customers Bancorp in Wyomissing, Pa., reported higher quarterly earnings as higher revenue offset a spike in expenses.

CNB Financial reported higher quarter earnings after buying FC Bancorp in Ohio. The $2.2 billion-asset company reported an 18% increase in third-quarter earnings from a year earlier, to $5.5 million.

Richard Hunt of the Consumer Bankers Association describes the changes to the Consumer Financial Protection Bureau he'll press for in the next Congress, regardless of which party controls the Senate.

Richard Hunt of the Consumer Bankers Association describes the changes to the Consumer Financial Protection Bureau he'll press for in the next Congress, regardless of which party controls the Senate.

BBCN Bancorp in Los Angeles reported a decline in quarterly earnings tied to higher expenses and a rise in loan payoffs.

The $2.9 billion-asset company's third-quarter earnings more than tripled from the second quarter, which included upfront merger-related expenses, and rose 72% from a year earlier, to $5.9 million.

The Mississippi company withdrew two merger applications in August after the FDIC targeted its Bank Secrecy Act compliance. Management says it has made significant progress and is looking forward to a follow-up exam early next year.

PHOENIX — Apple enters the mobile wallet world in a stronger position than most of its rivals, largely because it sought the support of card networks and banks before the first Apple Pay transaction ever took place.

Banks are bound to confront knotty privacy questions as they strive to make smarter use of customer data and experiment with technologies like wireless beacons, geolocation and algorithm-recommended offers.

The Community Reinvestment Act is often used as a tool to address a broad range of social problems. But the law’s expanded purpose may distract banks from their primary mission of direct lending to low- and moderate-income communities.

Signature Bank in New York reported higher third-quarter profits driven by an uptick in commercial and multifamily lending.

First Defiance Financial in Defiance, Ohio, reported higher quarterly profit after posting higher fee income.

The GSE regulator's second attempt to stimulate the mortgage market is receiving a lukewarm reception from lenders, who remain gun-shy after being forced by Fannie and Freddie to repurchase billions of dollars in soured loans since 2008.

Staples Inc., the world&'s largest office-supply chain, is investigating a potential breach of customer credit-card data, becoming the latest retailer to confront a threat from hackers in recent months.

JPMorgan Chase agreed to pay 72.2 million euros ($92 million) in fines to European Union regulators for influencing derivatives and spreads linked to Libor rates and Swiss francs, the EU said Tuesday.

The biggest fear cited by nearly 1,400 people who were polled is that they won't have enough money to pay the monthly bills.

Washington Trust Bancorp in Westerly, R.I., reported increased profitability that reflected balance sheet growth and lower costs.

Regions Financial in Birmingham, Ala., reported higher third-quarter earnings, as cost cuts offset declines in net interest income and fee income.