Banking

An operation that sent millions of spam text messages to consumers across the U.S. with false promises of gift cards to retailers has settled FTC charges.

Many bankers are accusing their competitors of softening loan terms to stay competitive. Here are seven ways bankers are easing credit standards to court business borrowers.

GreenStar Payment Solutions, a venture of SinglePoint, Advanced Content Services and GreenHouse Payment Solutions, is offering debit card acceptance to legal marijuana dispensaries through the use of cashless ATMs.

Univest Corp. of Pennsylvania (UVSP) in Souderton said its president of wealth management is leaving to lead a nonprofit financial services firm whose operations include a credit union.

National Bank Holdings (NBHC) in Greenwood Village, Colo., has tapped a recently retired banking commissioner to join its board.

Commerce Bancshares (CBSH) of Kansas City, Mo., expects to sell $150 million in preferred stock, which it will use to buy back $200 million of its common stock.

The state of California is seeking a 12-month license suspension for CashCall, a high-cost lender that's come under fire in numerous other states.

The Bank of New York Mellon (BK) is planning to enter the reverse mortgage business.

Mutuals also face a disadvantage with succession planning because they are unable to offer equity-based compensation. Instead, mutuals need to highlight cultural advantages that include a better quality of life and greater stability.

Coast Bancorp (CTBP) raised $6.8 million in capital through a private placement offering as it looks to grow after recently resolving a regulatory order.

A breed of malware targeting mobile devices called Svpeng has made its way from Russia to the U.S. The malware looks for specific mobile banking apps on the phone, then locks the phone and demands money to unlock it.

The Delaware bank, which issues cards for a wide swath of the prepaid industry, will have to curtail its growth as part of an agreement with the FDIC.

Big and regional banks are embracing gay pride month, sponsoring festivals in New York, San Francisco and other major cities throughout June as well as sending employees and executives to participate in parades and promote an inclusive image to consumers.

The $7.4 billion-asset company announced this week that it is planning a branch in Greenville, S.C.

New York Attorney General Eric Schneiderman on Friday announced his support for a proposal in the state legislature to regulate prepaid debit cards used by employers to pay wages.

WASHINGTON — A bank subsidiary should be able to claim tax refunds resulting from the institution's losses even if its tax returns are filed by the holding company, the federal bank regulators said in guidance issued Friday.

The Justice Department has asked Citigroup for more than $10 billion to settle a probe into the lender's sale of mortgage-backed bonds in the run up to the 2008 financial crisis, according to a person familiar with the negotiations.

Citigroup (NYSE: C) is selling its consumer banking business in Greece as it part of its ongoing plan to scale back its operations in certain foreign markets.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

The operators of a massive mobile cramming scheme will surrender more than $10 million in assets to settle Federal Trade Commission charges.