Banking

More banks may soon give free FICO credit scores to millions of card customers along with their monthly bills as Discover Financial Services extends the offering to all of its cardholders.

Fannie Mae and Freddie Mac are not properly using a web portal developed to collect and screen appraisal information in order to minimize losses, according to an audit released Thursday.

Apple Inc. removed Blockchain, an application for iPhones used to send and receive bitcoins, from its App Store, the developer of the program said.

Crossline Capital in Lake Forest, Calif., has acquired Medallion Mortgage Co. in Agoura Hills for an undisclosed price.

A Connecticut man has been sentenced to 18 months in federal prison for his role in a mortgage fraud scheme that cost financial institutions millions of dollars.

MasterCard (MA) has promoted Tim Murphy to general counsel and chief franchise officer.

Strong loan and asset growth powered the Internet banking company BofI Holding (BOFI) to record profits in the quarter that ended Dec. 31.

Benjamin Lawsky, New York's top financial regulator, has asked more than a dozen banks including Goldman Sachs Group Inc. (GS) and Deutsche Bank AG (DB) for documents related to their currency trading practices

Corporate payment provider Wex is already laying the groundwork for 2015, when it plans to use the ExxonMobil fleet payments program to jump-start its efforts in the large network of European countries that comes with the new product.

Santander Bank, formerly Sovereign Bank, has launched a rewards-heavy credit card and made other creative retail moves in the U.S. as it tries to establish an identity beyond that of the foreign-owned bank with the tricky name.

BBVA Compass reported a 28% drop in profits in the fourth quarter from the same period in 2012, to $68.8 million, as revenue, interest income and noninterest income all declined.

A little-known dissident investor wants the company to sell. Another shareholder is comfortable giving management them more time to become profitable. A key issue involves the company's deferred-tax asset.

New regulations and tighter underwriting since the financial crisis have slowed down the mortgage process so much that closing a loan within 15 days is something lenders can brag about.

American Express has revamped its Open small business credit card so that the card's rewards can change as the customer's business evolves.

Lynn E. Szymoniak, famous for helping to uncover the robo-signing scandal, is now suing 22 companies for allegedly creating fraudulent documents and submitting tens of thousands of false claims to HUD.

Cascade Bancorp (CACB) in Bend, Ore., reported lower quarterly profits as merger costs drove up noninterest expenses.

Bankers had more optimism about market conditions in December, fueled by accelerated activity in commercial lending and improved loan pricing.

PrivateBancorp (PVTB) in Chicago has continued its trend of hiring former employees of LaSalle Bank, this time hiring a group who will lead the company in advising other banks.

Black Knight Financial Services, formerly known as Lender Processing Services and ServiceLink, conducted loan processing on a record 41 million loans through the end of last year.