Banking

Demand for loans by consumers and businesses grew in the first quarter, according to a Federal Reserve report released Wednesday.

The Obama administration is urging activists like the National Council of La Raza to support legislation to overhaul the housing finance market, ahead of a Senate Banking Committee vote scheduled for late April.

Mortgage applications, including requests for refinancings and for home purchase loans, rose from the previous week for the week ended April 11.

First Data in Atlanta has named retired JPMorgan senior executive Heidi Miller to its board of directors.

The Chicago-area company has shown a willingness to pursue small branch deals and expand in nearby Wisconsin as it looks for liquidity and lending opportunities.

As banks increasingly compete to manage their most affluent customers' assets, some financial companies are using savvy strategies to win a share of this lucrative business. American Banker reporters discuss the tactics some banks are using to stand out from the wealth-management crowd.

The app, called Pinacle, lets executives manage user access to company account data, view balance and transaction details, approve wire transfers and receive alerts.

The shut down comes three years after a Canadian company purchased the business.

A federal worker union is battling a bipartisan push in Congress to restart the Internal Revenue Service's controversial use of private collection agencies to pursue tax debts.

The moves are part of a recent trend of banks exiting businesses that they believe have fallen out of favor with regulators.

Compliance software vendor Strevus is adding support for bitcoin and other cryptocurrencies to its products.

Community Bankers Trust (ESXB) in Richmond, Va., has named a new chief credit officer for its Essex Bank

U.S. banks today are safer, sounder, more secure, transparent, accountable and are performing their critical roles in the global economy.

Huntington Bancshares (HBAN) in the first quarter padded its litigation reserves and recorded one-time expenses related to a recent acquisition.

Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency.

Bank of America, the second- biggest U.S. lender, swung to a surprise loss as the company booked $6 billion of costs tied to mortgage disputes.

U.S. Bancorp, the nation's biggest regional lender, posted a first-quarter profit that matched analysts' estimates as mortgage-banking revenue declined.

PNC Financial Services Group Inc., the second-biggest U.S. regional bank, said profit rose 6.5 percent, beating analysts' estimates, as expenses declined and the company set aside fewer provisions for soured loans.

Banks from New Jersey to California are going public with offerings ranging from $23 million to $223 million. The banks will use the proceeds to do everything from buy other institutions to retire debt. Following is a look.

National consumer credit default rates fell in March to the lowest post-recession rate, according to data released Tuesday.