Banking

While distressed borrowers said they're more satisfied with the customer service they receive today than a year ago, servicers with large portfolios of distressed loans were still ranked lower than their peers in a recent J.D. Power survey.

Seven defendants were charged Friday with illegally processing credit card payments on behalf of a massive Internet scam that allegedly bilked millions of dollars from consumers by repeatedly charging them for "trial" memberships they never ordered.

Banks, especially small to midsize ones, have been rewarded with strong loan growth this year. But heavy competition and uncertain economic forecasts are forcing them to keep fine-tuning their growth strategies, asset mixes and risk tolerance.

There were 49,000 completed foreclosures nationally in June, down from 54,000 in June 2013, a decrease of 9.9%, according to CoreLogic's latest National Foreclosure Report.

Banks need to develop effective ways to engage millennials, a growing segment of the population, and the best way to do this is through mobile devices, according to Fair Isaac.

Amalgamated Bank in New York has given its president, Keith Mestrich, the additional title of chief executive.

Rich Weaver has retired as commissioner of the Missouri Division of Finance.

Cyber-savvy con artists posing as company CEOs are carrying out highly successful financial frauds. Bank of the West's David Pollino is on a crusade to educate banks and their corporate customers about this threat.

Liberty Bank in New Orleans reached agreement a year ago to acquire First Tuskegee Bank in Alabama. But the deal has remained in limbo ever since, and it shows that buyers and sellers can take little for granted in bank M&A.

Stellar, a new protocol for transmitting money, is launching under the guidance of several payments industry experts.

We're teaming up with BAI on new initiative focused on providing bankers information and perspective to aid in future technology decisions.

A study released Tuesday found that the share of Americans in collections has remained steady even as the U.S. pares down the size of its credit card debt.

Essex Bank in Richmond, Va., recently launched a wholesale mortgage funding group.

Bank of the Ozarks in Little Rock, Ark., has agreed to buy Intervest Bancshares in New York for $228.5 million in stock.

The troubled Greenville, S.C., bank lost $15 million in the second quarter, its first quarterly results since a new management team replaced the three founders who were fired in April. Moreover, local NAACP leaders have raised concerns about the firings, which they say sent a toxic message to the local African-American community.

Sun Bancorp in Mount Laurel, N.J., reported a second-quarter loss due to one-time charges related to its ongoing restructuring efforts.

One in four banks are eyeing wealth management as a way to boost noninterest income and deepen customer relationships, according to a new survey by American Banker and SourceMedia Research.

Regional and small banks are providing M&A advisory services to their commercial customers as a way to drive fee income, deepen client relationships and differentiate themselves from rivals.

A sizable portion of the banking industry has increased spending on mobile banking technology by more than half this year, according to a recent American Banker survey.

If finalized and then approved by regulators, the combination of the Des Moines and Seattle Home Loan banks would be the first voluntary merger in the system’s history.