Banking

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.

Executives at Tangerine and Moven are dousing themselves with ice water to raise awareness for Lou Gehrig's disease, and posting their videos on Facebook.

Preferred Bank in Los Angeles has recovered a large chunk of a loan it had given up on. The $1.9 billion-asset company said a $5.6 million loan that had been put in nonaccrual status was paid off Friday.

Highlands Bankshares in Abingdon, Va., has elected a new chairman and president.

The industry is objecting to a recent Consumer Financial Protection Bureau blog post that calls into question the transparency of agreements between colleges and financial institutions that offer student products.

Deutsche Bank has hired two executives to oversee technology and operations. Richard Shannon has been appointed chief information officer and co-head of group technology and operations for the Americas, while Scott Marcar will be head of IT Infrastructure, the company said in a press release Monday.

Second liens were the toughest nonperforming home loan asset to find a buyer for in the secondary market. Now, there are some aggressive buyers, but many holders of these assets -- especially banks -- are reluctant to sell.

The Financial Services Roundtable is accusing the Consumer Financial Protection Bureau of potentially spreading misinformation through the bureau's consumer complaint database.

AB Acquisition LLC, an Idaho-based company that owns and operates several supermarket chains, reported confirmed that customers' credit and debit card data may have been compromised in a data breach.

Pathfinder Bancorp in Oswego, N.Y., could raise nearly $27 million through a second-step conversion.

The Connecticut company was an early adopter of branch modernization, starting an effort four years ago that has led to the closure of underperforming locations, enhanced digital offerings and use of universal bankers.

"Cold storage" of cryptographic private keys, private theft insurance, and audited full reserves can prevent another Mt. Gox-like debacle, says Jeremy Allaire, the CEO of Bitcoin startup Circle Internet Financial.

The Federal Housing Finance Agency banned banks and mortgage servicers from accepting commissions on force-placed insurance policies issued by affiliated companies. At least one mortgage servicer, Ocwen Financial, has found a way around the ban.

First Interstate BancSystem, in Billings, Mont., will appeal a Montana state court jury's verdict that the company pay about $17 million in compensatory and punitive damages from a dispute with a former customer.

Supervalu Inc., a U.S. supermarket chain concentrated in the Midwest, suffered a data breach that exposed customers' payment-card information, marking the latest hacker attack on the retail industry.