Banking

The Consumer Bankers Association frequently tangles with the Consumer Financial Protection Bureau, but its new chief Tim Wennes struck a more conciliatory tone in an interview. Rules that promote transparency and consumer understanding are good, but consumer choice has to be preserved, he said.

Wilmington Trust Co., a unit of M&T Bank Corp. (MTB), agreed to pay $18.5 million to settle U.S. regulatory claims that the bank failed to report construction loans that weren't being repaid.

The Bill and Melinda Gates Foundation will provide $100,000 to organizations that promote the use of digital payments for the poor.

Interest in a market for buying and selling nonguaranteed portions of SBA loans is slowly taking shape as a need for earning assets outweighs concerns over risk and underwriting costs.

No Debts for Vets campaign supports military men and women suffering from financial hardships.

Microbranches have their merits — but banks should be aware that changes in technology and customer preferences could render them obsolete.

A TV reality show cast member, who pleaded created two phony collection agencies to steal millions from consumers and financial institutions, turned himself in Thursday - a day late - to begin an eight-year prison sentence.

Brookline Bancorp in Boston plans to raise $75 million by issuing debt.

If anybody deserves to tell a "Gee, my arms are tired" joke, it's Bob Barnes of Mainstreet Community Bank of Florida, who spent the month of August doing push-ups to raise money for a community group that provides food and shelter for people in need.

First Citizens Banc in Sandusky, Ohio, has agreed to buy TCNB Financial in Dayton, Ohio.

Citizens Financial Group in Providence, R.I., is expanding its banking unit that focuses on the technology sector.

Until we know without doubt with whom we are transacting, the legacy payment networks cannot be made secure for Internet-sourced electronic payments.

New York City Mayor Bill de Blasio has appointed Minerva Tantoco, a former executive at UBS and Bank of America, as the city's chief technology officer.

Cape Bancorp in Cape May Courthouse, N.J., has agreed to buy Colonial Financial Services in Vineland, N.J.

The New York Times' Neil Irwin says Apple Pay is trying to solve a problem that isn't a problem, but he’s missing the point.

Wells Fargo and Bank of America and JPMorgan Chase are pressing downstream to compete for commercial and industrial loans, and regional and small banks are feeling the pain more than ever.

PennyMac became the third largest correspondent aggregator after banks turned their back on the mortgage origination channel. With banks now increasingly shedding servicing rights, PennyMac is poised to make a similar play in servicing.

NewDominion Bank in Charlotte, N.C., said Wednesday that its chief executive, C. John Hipp, plans to retire by the end of the year. He will be succeeded by Blaine Jackson, the bank's chief financial officer.

Ana Patricia Botin, named chairman of Banco Santander SA (SAN), becomes the most powerful woman in European banking, succeeding her father a day after his death.

The banks involved in Apple's mobile payment platform cite the enhanced security, intuitive user experience and brand name. Even if they sacrifice fees, they could make it up on volume.