Banking

JPMorgan Chase (JPM) said it will lay off more than 150 employees in its Garden City, N.Y., mortgage division, as part of a previously announced broader downsizing.

The Senate Banking Committee is said to be moving toward a vote on major housing finance reform legislation next week, but the effort is likely to attract no more than 13 votes, falling short of what would be needed to advance the bill to the Senate floor this year.

Former Citigroup Chairman Richard Parsons was named interim chief executive officer of the National Basketball Association's Los Angeles Clippers, whose owner has been banned from the league for making racist comments.

Banc of California (BANC) in Irvine, Calif., swung to a loss in the first quarter as expenses ballooned following its acquisition of the Private Bank of California

It's no longer enough to choose a vendor because it's a market leader. Regulators are now requiring banks to grade vendors based on the perceived risk to the bank if a vendor goes bust or can't do the job.

On Wednesday, the Federal Financial Institutions Examination Council announced plans for cybersecurity risk assessments of banks during a webinar.

Prepaid cards are an appealing market for small banks that want to retain and recruit customers, though bankers must consider potential regulatory and competitive risks before jumping into the business.

Atare Agbamu promised his elderly clients that reverse mortgages were regulated to protect them and their spouses and heirs. Then he came across a HUD letter to lenders indicating otherwise.

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

The Utah-based payments processing company eGlobal has acquired the assets of The Best There Is Inc., a provider of ATM services in Boca Raton, Fla.

Rodger Levenson of WSFS Financial (WSFS) in Wilmington, Del., has been appointed chairman of the Delaware Bankers Association.

The Utah-based payments processing company eGlobal has acquired the assets of The Best There Is Inc., a provider of ATM services in Boca Raton, Fla.

The San Diego-based debt buyer has actively acquired several international business in the past year.

Three key crisis response concepts can help bank leadership teams avoid the fate of Target CEO Gregg Steinhafel, who resigned this week in the aftermath of the company's holiday season cyberattack.

The Consumer Financial Protection Bureau released a snapshot report reviewing mortgage debt challenges faced by older Americans.

Taylor Capital (TAYC) in Chicago is no longer looking to sell its mortgage banking operation.

CINCINNATI — As banks cut back on branches, credit unions are stepping up their interest in bricks-and-mortar service delivery.

First Farmers Financial (FFMR) in Converse, Ind., has agreed to buy seven branches in Indiana from Bank of Montreal's BMO Harris Bank.

GLENDALE, Calif. — When it was time to remodel its branch here earlier this year, Los Angeles Federal Credit Union installed touch screen and other technology to up its cool quotient.

SAN ANTONIO — Credit union branches are less likely to be a "destination" for members, so the key is to be where the members already are. That's why progressive CUs are exploring and expanding in-store branch opportunities.