Banking

The Puerto Rican company is looking to shore up its capital levels after the FDIC invalidated about 40% of its Tier 1 capital. Management will have plenty of challenges as it looks to fill the capital hole.

Meridian Bancorp (EBSB), the newly formed bank holding company for East Boston Savings Bank, could raise at least $233 million and as much as $364 million in its upcoming public offering.

Banks' have a new worry on the payday lending front besides the government's Operation Choke Point: lawsuits filed by consumers. Eleven financial institutions been hit with private suits that accuse them of helping online payday lenders break the law.

New York regulator Benjamin Lawksy plans to expand an investigation into the affiliated businesses of nonbank servicers and to eliminate several layers of review for mortgage bankers to apply for a license or a new branch location.

The National Consumer Law Center on Monday sued the U.S. Department of Education as a result of the agency refusing to hand over documents detailing how the federal government awards bonuses to collection agencies it hires to pursue defaulted student loans.

There are a lot of great programs aimed at helping low-income people improve their financial circumstances. One problem: figuring out how to connect with them in the first place.

Shore Bank, a subsidiary of Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., is opening its third branch on the Eastern Shore of Maryland.

Jumio is working with the European Bitcoin exchange Safello to provide faster verification of customers.

Freddie Mac has long struggled to compete with larger rival Fannie Mae because the former's mortgage-backed securities trade at a discount to the latter's. Their new regulator may change that.

The Banking Industry Architecture Network, a standards group that promotes the use of services-oriented architecture among banks, today announced the addition of two U.S.-based members.

New York consumers who paid exorbitant interest rates to the online lender Western Sky and the online loan servicer CashCall can begin filing claims to collect refunds.

Second Curve Capital in New York cashed out of two bank holdings in the first quarter.

Citi's move may bring much-needed liquidity to a segment of the mortgage market that most of the big banks, with the exception of Wells Fargo, abandoned in the aftermath of the crisis.

Account Control Technology Holdings Inc. announced Tuesday the acquisition of Convergent Resources Holdings LLC. in a deal that will create a business processing outsourcing firm with more than 3,900 employees and 20 offices.

After dropping its first "pop up" branch in Atlanta less than a year ago, PNC Bank has opened a second in Chicago's Congress Plaza.

Heritage Bank in Australia recently teamed up with Japanese clothing manufacturer MJ Bale to do something unexpected: thread its contactless payment chip and antenna into a dozen suits.

The law will reduce from 12 years to three the time debt collectors have to pursue homeowners in court for fore­closure debt.

Seven years after the onset of the housing crisis, many homeowners continue to face unfair and unnecessary foreclosures. Regulators can help remedy the situation by prioritizing greater transparency in mortgage relief and securing funding for housing counselors and legal advocates.

The Commercial Law League of America has debuted its newly revised commercial collection agency certification program.

CommunityOne Bancorp (COB) in Asheboro, N.C., plans to sell stock it issued the Treasury Department as part of the Troubled Asset Relief Program.