Banking

HSBC was accused of targeting minority borrowers in Chicago with high-cost mortgage loans as Cook County, Illinois, followed other local governments in trying to hold subprime lenders liable for urban blight.

Payday lenders told the Consumer Financial Protection Bureau on Tuesday that they will accept new regulation so long as it does not "cripple" the industry and credit availability.

PacWest Bancorp's pending purchase of CapitalSource has been pushed back as the deal awaits approval from the Federal Reserve Board.

Security vendor Trustwave has been accused of failing to identify security gaps at Target, according to a lawsuit filed by banks for damages suffered from the holiday season data breach.

Ameris Bancorp (ABCB) in Moultrie, Ga., has repurchased all the shares it issued under the Troubled Asset Relief Program.

Bay Banks of Virginia in Kilmarnock is adjusting its 2013 financial results after unloading a troubled asset.

Kansas City's UMB Bank has rolled out an in-house tech support program to help get its less-tech-savvy customers comfortable with digital channels. It also hopes the initiative will help it boost retention rates and perhaps even capture a larger share of the customer's wallet.

Target Corp., scheduled to testify tomorrow about a data breach affecting millions of customers, plans to tell lawmakers it had clues about the attack weeks before responding and is exploring why it took so long to react.

Solera National Bancorp's annual meeting is quickly shaping up to be a free-for-all.

JPMorgan Chase investment bank co-head Mike Cavanagh, one of the leading candidates to eventually succeed CEO Jamie Dimon, will become co-president of Carlyle Group. His departure is the latest, and one of the most serious, in a long string of recent senior-level exits from the country's largest bank.

Citigroup (NYSE:C) has joined the growing number of banks that have hired chief digital officers.

A recent survey shows that two-third of mutual savings banks have considered mergers and that 40% give it even odds that they will participate in consolidation in the next five years.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

Christopher Whalen, an outspoken analyst of the banking and mortgage industries, has joined the advisory board of Weiss Residential Research, a developer of home price indexes.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

Nearly 150 million U.S. adults are expected to be banking on their mobile devices by 2018, and lenders can roll out the red carpet with user-friendly apps and modernized branches.

Delinquent first mortgages totaled 5.65 percent of outstanding balances, down more than 22 percent year-over-year in February, according to a new report.

Ratings for the opening weekend of the NCAA Men's Basketball Tournament rose 8% from a year earlier. Several financial firms benefited from the visibility of having their names on venues that hosted games.

Washington Federal (WAFD) in Seattle has shifted a number of executive titles and responsibilities.

The CFPB says it is in the late stages of formulating new regulations for the payday lending business.