Banking

DBS Bank in Singapore has committed to using IBM's Watson technology for three years and plans to spend about $11.8 million on it; Nedbank in Southern Africa has also agreed to begin using the high-end business intelligence system, IBM announced Thursday.

In an attempt to expand business in the Boston area, People's United Bank has hired a Boston-based senior vice president away from Citigroup (NYSE: C).

Coastway Bancorp in Cranston, R.I., is planning to raise roughly $48.3 million in its conversion to a 100% stock-owned company.

Regulatory uncertainty and a recognition that data is still siloed and controls are not what they should be are driving many banks to continue heavy investment in risk-related technology, IDC analysts find.

Banco Santander SA's U.S. consumer lender subsidiary, which originates subprime loans for new- vehicle purchases and leases, is seeking to raise as much as $1.56 billion in an initial public offering.

Zombie companies have survived on the loose monetary policy of the past few years, designed to help at-risk businesses stay afloat and keep people employed in the wake of the financial crisis. But forthcoming changes will make it hard for these firms to repay their debt.

Gains in student and auto loans fueled an increase in consumer borrowing in November, according to the latest Federal Reserve G.19 report.

Minnesota Attorney General Lori Swanson sued collection agency Bradstreet and Associates on Wednesday for charging steep interest rates on overdrawn checking accounts at two big banks.

BancorpSouth (BXS) in Tupelo, Miss., has agreed to buy Ouachita Bancshares in Monroe, La.

Fearless forecasts from BankThink's stable of industry veterans, experts and critics.

American Express Co. said it's appealing a federal judge's order approving Visa Inc. and MasterCard Inc.'s $5.7 billion settlement that ended years of litigation with U.S. merchants over allegations that credit-card swipe fees are improperly fixed.

During the third quarter of 2013, a composite ratio of consumer delinquencies tracked by the American Bankers Association fell to a record low of 1.63%, the trade group said Thursday.

Southern National Bancorp of Virginia (SONA) in McLean has agreed to buy Prince George's Federal Savings Bank in Upper Marlboro, Md.

BBVA Compass is cutting between 400 and 600 jobs in its banking and real-estate-lending divisions.

JPMorgan Chase promoted longtime spokeswoman Kristin Lemkau to become its new chief marketing officer this week. Lemkau seeks to offset the bank's bad press, figure out a better digital-marketing strategy and improve its social-media presence after the #AskJPM Twitter debacle, she says in an interview.

Mortgage lenders are eager to make home loans this year -- but consumers may be more hesitant to borrow.

Big banks stepped up small business lending at the end of 2013, according to the Biz2Credit Small Business Lending Index released Wednesday.

As more community banks look at working with alternative lenders, they must be mindful of the regulatory and reputational risk that can occur if they make a bad referral.

JPMorgan Chase & Co. (JPM) lost a bid to throw out a lawsuit by the California attorney general alleging that the largest U.S. bank by assets illegally tried to collect debt from about 100,000 credit-card borrowers.

Taylor Bean & Whitaker Mortgage Corp. and Home America Mortgage will pay more than $320 million to resolve allegations that they falsified loan applications, created false documentation, and misrepresented qualifications of applicants in order to secure federally funded insurance for home loans that ultimately defaulted.