Banking

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.

The Chicago Federal Home Loan Bank reaches agreement with Redwood Trust so member institutions can sell loans to the private-label issuer.

DBA International voiced support for the federal enforcement action against the owner of Florida-based debt buyer United Credit Recovery.

Chinese restaurant chain P.F. Chang's has confirmed that the data breach it discovered Tuesday involved the theft of credit and debit cards.

While banks struggle to get consumers to use Near Field Communication-enabled phones for mobile payments, the video game industry is having blockbuster success with NFC technology.

The restaurant chain P.F. Chang's has confirmed that the data breach it discovered Tuesday involved the theft of credit and debit cards.

A Consumer Financial Protection Bureau hearing meant to get feedback on mobile banking technology took a sharp turn Thursday when a majority of the audience offered complaints about payday lenders instead.

A home builder that offers home financing has settled FTC charges that it deceived consumers by advertising low-cost mortgages while hiding fees and not disclosing critical information.

Green Dot (GDOT) said Thursday that it has hired a PayPal executive to become general manager of its mobile bank account, known as GoBank.

Luvleen Sidhu has been hired by her father -- Jay Sidhu, the head of Customers Bancorp -- to do something a lot of small banks would be afraid to tackle: develop Customers' own mobile banking software.

The world's oldest and largest custody bank is counting its recently launched Continuous Process Improvement strategy to drive its transformation — and bolster its bottom line.