Banking

Credit Karma and Fandango have settled charges with the Federal Trade Commission that their mobile applications inadequately protected consumers' payments and other personal data.

Bank of America has given Thomas Montag the full title of chief operating officer, while David Darnell will move away from headquarters in Charlotte, N.C., and become vice chairman.

The hot-button topic of what Fannie Mae and Freddie Mac should charge for loan guarantees is emerging as a key issue in reviving a private-label securitization market.

Mutual-to-stock conversions are facing new hurdles, as evidenced by events at a pair of Massachusetts mutuals. Depositors at Beverly Bank recently rejected its proposed conversion, while Reading Co-op Bank changed its bylaws to make it more difficult to convert.

The FDIC, OCC and Fed all maintain that it's up to banks, not their regulators, to make decisions about whether to do business with payday lenders.

Standard Chartered agreed to pay $300 million for failing to flag suspicious transactions after promising to do so as part of a 2012 settlement with New York's banking regulator.

Citigroup, the bank that gets the most international revenue of any U.S. competitor, is considering exiting consumer banking in Japan and transferring branches to another lender, NHK reported.

Credit Karma must establish security programs to address risks during the development of applications and must undergo security reviews for 20 years under a settlement of Federal Trade Commission charges.

Default rates fell slightly in July to the lowest mark in more than 10 years, according to the S&P/Experian Consumer Credit Default Indices released Tuesday.

Investors will remain reluctant to take on the personal risk inherent in establishing de novo community banks as long as new regulations remain unwieldy and returns stay low, according to Richard Magrann-Wells.

Square Inc. has received an investment from Victory Park Capital that it says will allow the company to significantly expand its Square Capital business financing program.

New York-regulated banks won't be able to hire PwC for consulting work until 2016 under a penalty handed down by Benjamin Lawsky, the state's banking superintendent. The move could encourage some banks to turn to smaller auditors, who some experts say produce higher quality work and are less expensive.

Mixed signals from regulators — on everything from electronic checks to Operation Choke Point - only create fear, uncertainty and doubt among those in the business of improving the payment system, writes Glen Fossella.

Square and Twitter founder Jack Dorsey has been in Ferguson, Mo., as part of the protests that followed the police shooting of Michael Brown, an unarmed African American teenager, earlier this month.

Think a Wall Street executive could win a goat-milking contest or be the ringman at a livestock auction? No chance, but they could learn from these small-town bankers in Indiana and Colorado.

Falling property prices in the city triggered $1 billion of bad loans as buyers abandoned homes and stopped making mortgage payments, according to the country's Economy & Nation Weekly.

The paper check has received another death knell, as it is being eliminated as a redemption option in JPMorgan Chase's Ultimate Rewards Program as the issuer encourages more consumers to request statement credits instead.

Joseph Stilwell, an activist investor who has targeted community banks, has been ordered to appear in federal court in New York in connection to a subpoena request for an investigation into potential securities fraud.

WASHINGTON — A group of retail trade associations and large retailers wants the Supreme Court to review the Federal Reserve Board's recent cap on debit card swipe fees that merchants say is higher than the fee limit envisioned in the Dodd-Frank Act.