Banking

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.

A federal court has imposed a $26.9 million judgment against the operator of a work-at-home scheme who lied about his financial assets in an effort to hide them from the Federal Trade Commission when he agreed to a settlement with the agency in 2010.

MasterCard's digital wallet is currently live in 10 markets and the company has plans to add four more countries this year in a push to strengthen the card network's capabilities in an increasingly digital world.

First Bancorp in Southern Pines, N.C., posted a 20% jump in its second-quarter earnings as its provision for loan losses declined and fee income increased.

Home price gains have caused borrowers to turn to second liens to access cash for home improvement or other needs as higher interest rates damp first lien originations.

Banks can boost mortgage profits with the help of direct call centers and products like adjustable-rate mortgages and jumbo loans, writes Stratmor Group's Garth Graham.

Brookline Bancorp in Boston reported higher quarterly earnings because of loan growth.

Banc of California in Irvine reported a jump in second-quarter profits, fueled by strong growth in its loan portfolio.

The mortgage interest tax deduction is supposed to encourage homeownership among low- and middle-income Americans. But it primarily benefits higher-income taxpayers, according to a new study from the Mercatus Center at George Mason University.

Target Corp., struggling to fix a botched expansion in Canada and undo the lingering damage of a holiday hacker attack, hired former PepsiCo Inc. executive Brian Cornell as chief executive officer.

American Express Co. Chief Executive Officer Kenneth I. Chenault defended company rules that bar merchants from asking customers to use cards with lower processing costs as a needed measure to protect its brand.

TFS Financial in Cleveland reported that its quarterly profits increased as net interest income rose and its loan-loss provision shrank.

Capital One and three collection agencies will pay $75 million to settle Telephone Consumer Protection Act class-action claims. It's the largest cash settlement in the TCPA's history.

WESTMINSTER, Colo. and WARRENVILLE, Ill. — System United Corporate Federal Credit Union, better known as SunCorp, on Wednesday announced its intent to merge with Alloya Corporate Federal Credit Union of Illinois.

Old National Bancorp in Evansville, Ind., has spent the last year buying its way into higher-growth markets, including a deal announced Monday in Grand Rapids, Mich. CEO Bob Jones is still antsy to expand in Louisville but acknowledges that shareholders want him to take a break from M&A.

EverBank Financial in Jacksonville, Fla. reported a decline in second-quarter earnings as loan servicing fees and loan production revenue plunged.

Free credit scores are so seven years ago. Credit Karma, an educational site for consumers that makes money from sending customer leads to lenders, is now publishing free full credit reports on a more frequent basis. The idea is to better educate borrowers who are in the market for credit while collecting better leads for its bank partners.

New York Mayor Bill de Blasio announced $350 million in loans for affordable housing provided by banks led by Citigroup Inc. (C) as he forges closer ties to Wall Street, once one of his loudest critics.

Home Bancshares in Conway, Ark., has agreed to acquire Broward Financial Holdings in Fort Lauderdale, Fla.

Most bankers expect to see deposits flow out of their coffers next year if interest rates rise as expected, and some are starting to estimate how many. Whether the trend is good or bad depends on each bank's specific situation, but everybody has to get ready.