Banking

Fannie Mae and Freddie Mac will pay the U.S. Treasury Department a combined $10.2 billion by June 30, an amount reflecting the profits the U.S.-owned mortgage financiers reported for the first quarter.

Better ATM Services, a provider of prepaid cards delivered through ATMS, announced that the company's president and CEO, Todd Nuttall, will assume a new role as EVP of enabling technologies.

The Government Accountability Office has asked the Consumer Financial Protection Bureau to improve some of its accounting procedures and internal controls, according to a new report.

Washington Federal (WAFD) in Seattle negotiated a discount on its recent purchase of Bank of America (BAC) branches after deposits levels at those locations fell.

Colorado lawmakers on Wednesday passed a bill to establish a financial services co-operative to serve licensed marijuana dispensaries in the state.

Eagle Bancorp Montana (EBMT) in Helena has applied for a state charter for its American Federal Savings Bank.

A man accused of fraudulent use of credit cards at a Target Corp. store in Texas isn't believed to be responsible for initiating a breach at the retail chain in December involving the theft of card data from 40 million customers, according to police in Georgetown, Texas.

Valley National Bancorp (VLY) in Wayne, N.J., has agreed to buy 1st United Bancorp (FUBC) in Boca Raton, Fla.

Consumer borrowing in March rose by the most in a little more than a year as Americans used credit cards more often while also taking out school and auto loans, the Federal Reserve reported Wednesday.

Two of the largest consumer debt buyers agreed to drop lawsuits against borrowers and pay fines to settle allegations they violated a state's law in pursuing debtors.

European companies aren't using credit cards much for payments, which may give Wells Fargo a chance to establish a presence as a corporate issuer.

The Federal Financial Institutions Examination Council announced today that it will conduct cybersecurity assessments later this year.

JPMorgan Chase (JPM) announced Wednesday that it is joining with the Small Business Administration to serve as the presenting sponsor of the SBA's weeklong National Small Business Week celebration.

The $44.5 million purchase comes as financial tech companies continue to enhance online and mobile offerings.

Bank of America CEO Brian Moynihan and Chairman Charles Holliday pledged to hold the right people responsible for the $4 billion accounting error in its capital plan that hurt shareholders — but only after they carefully study what went wrong.

In a first, the state's financial firms will be required to undergo regular cybersecurity assessments to ensure that they are appropriately protecting customers' data. Banks support the effort — even if it forces them to boost IT spending.

Mortgage debt held by the elderly has soared over the past decade, driven in part by the foreclosure crisis, the Consumer Financial Protection Bureau said in a report Wednesday.

Xenith Bankshares (XBKS) in Richmond, Va., has named Thomas Snead Jr. chairman.

Industry boosters say the sky's the limit, as a flood of capital enables the rapid growth of peer-to-peer lending. But some skeptics are urging caution.

Banks and financial companies must "remain vigilant" against data breaches and other threats, and "there's still a lot of work to be done" to get more cybersecurity help from the government, according to Financial Services Roundtable CEO Tim Pawlenty. In this interview, Pawlenty discusses how his trade group is working with banks, retailers, regulators and legislators to improve the industry's response to hacker attacks.