Banking

People's United (PBCT) in Bridgeport, Conn., has started a payments firm in partnership with Vantiv in a move that aided the company's quarterly results.

The 100 new enterprise apps the two companies are creating will target specific "pain points" for the industries.

Sandy Spring Bancorp's profits fell short of expectations in the second quarter as revenue from mortgage banking plummeted and litigation costs rose.

The ongoing search for expense cuts continues, as investors wonder why regional banks such as KeyCorp, Fifth Third, Webster Financial and M&T aren't cutting more and faster.

The California Republican, who's one of the most vocal critics of Operation Choke Point, trained his sights Thursday on Assistant Attorney General Stuart Delery.

A simple loan payment calculator is proving surprisingly fruitful for Alliant Credit Union.

Aided by gains from a recent acquisition, Simmons First National (SFN) in Pine Bluff, Ark., reported a $9.9 million profit in the second quarter, a 51% increase from the same period last year.

The government hit JPMorgan Chase hard in its mortgage settlement last year, but that history did not stop President Obama from using a JPMorgan credit card to purchase barbecue after a recent economic speech in Texas.

First National Bank of Southern California in Riverside and First Mountain Bank (FMBP) in Big Bear Lake, Calif., have terminated their planned merger.

The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies.

Regulatory constraints make it hard for banks to offer payday and other short-term loans, so why not refer those potential customers to credit unions who can? Some banks -- including Bank of America, TD and South State -- have decided this is a good strategy and helped start a credit union in South Carolina to do the job.

First Interstate BancSystem (FIBK) in Billings, Mont., will close eight branches after it acquires Mountain West Financial (MTWF) in Helena, Mont.

LNB Bancorp (LNBB) in Lorain, Ohio, has hired a new chief financial officer.

East West Bancorp (EWBC) in Pasadena, Calif., reported double-digit earnings growth in the second quarter increase in its second-quarter earned a profit in the second quarter loan growth following the MetroCorp acquisition earlier this year.

The New York Department of Financial Services has released proposed framework for its much-anticipated BitLicense. Though the agency describes its proposal as a balanced approach that does not stifle innovation, its rules might be considered too strict for many companies.

Trust-preferred creditors have forced two indebted bank holding companies into involuntary bankruptcy this summer. Secured lenders may soon follow their lead and start foreclosing on bank stock collateral.

KeyCorp (KEY) in Cleveland reported higher quarterly earnings after a jump in investment banking and debt placement fees and lower credit costs.

WEX, a corporate payments company, has closed its acquisition of Evolution1, a Fargo-based firm that produces software to manage health care transactions.

Sageworks, a credit-risk management, analysis and valuation solutions provider in Raleigh, N.C., has launched a cloud-based bank and credit union data platform for banks, investors and banking industry vendors.

New York's financial regulation chief is proposing a "BitLicense" regulatory regime that he says will protect consumers and root out wrongdoing without stifling innovation by virtual-currency businesses in the state.