Banking

IBM is creating new apps for banks their employees can use on iPhones and iPads. In doing so, Big Blue will help banks push legacy applications out to new devices, making many types of work possible on Apple devices.

Community Bancshares in McArthur, Ohio, has agreed to buy Citizens Bank of Asheville in Ohio.

A group led by Michael Quagliano, Solera's biggest shareholder, successfully took over the company's board last month, possibly ending a lengthy proxy battle.

The Consumer Financial Protection Bureau issued a proposal Wednesday that would allow it to publish more information about individual complaints made by consumers about financial companies.

Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.

Western Union (WU) has appointed Robert W. Selander, former chief executive of MasterCard (MA), to its board of directors.

Bank of America completed a $2.1 billion bulk sale of nonperforming home loans in the second quarter, and is almost done with such dispositions, said Chief Financial Officer Bruce Thompson.

Startups that focus on person-to-person payments or peer-to-peer lending may well be the future heavyweights of the financial services industry. Banks must either band together to create viable alternatives or risk losing relevance.

More merchants are interested in accepting payments on tablets and phones, and they have many choices of providers. What are banks and vendors doing to set themselves apart?

First Republic Bank (FRC) in San Francisco reported higher earnings for the second quarter, as strong revenue growth helped offset a rise in compliance costs.

Boston Private Financial Holdings (BPFH) has agreed to buy Banyan Partners, an investment advisory firm in Palm Beach Gardens, Fla.

In a deal that will provide a new option for banks that provide mobile devices to their employees or let them use their own phones and tablets for work, Apple and IBM announced last night that they co-developing a set of enterprise mobile apps and services.

Mortgage applications decreased last week from the previous week, led by a drop in purchase loan requests.

Even activities permitted under the Volcker Rule may not be worth the legal and compliance costs for small and midsize banks, according to three attorneys at Bass, Berry & Sims.

Expert Global Solutions, the holding firm for collections giant NCO Financial, is selling part of its accounts receivable management business to a private equity firm. Financial details of the pending deal were not disclosed.

The FTC and CFPB will co-host a roundtable in October to examine how debt collection issues affect Latino consumers, especially those who have limited English proficiency.

Debt buyer Portfolio Recovery Associates has acquired Aktiv Kapital AS, a Norway-based accounts receivable management company, in one of the largest deals in accounts receivable management history. The combined companies will be called PRA Group.

U.S. Treasury Secretary Jacob J. Lew urged Congress and financial companies to step up their fight against cyber threats, saying malicious acts pose a risk to national security and financial stability.

U.S. Bancorp, the nation's largest regional lender, reported second-quarter profit that beat analysts' estimates as the company set aside less money to cover losses and commercial loan growth accelerated.

PNC Financial Services Group Inc., the second-largest U.S. regional bank, reported a profit that beat analysts' estimates as expenses declined and the company set aside less money to cover soured loans.