Banking

NewStar Financial Inc. (NEWS), the lender backed by private-equity firms Corsair Capital LLC and Capital Z Partners Management LLC, is extending its sale process into 2014, three people familiar with the matter said.

Although admittedly late to the game, the Buffalo bank is getting enthusiastic response to its mobile banking app.

The $7.3 million-asset company said late Thursday that it will buy a professional-services practice from EBS-RMSCO, a Lifetime Healthcare unit, for an undisclosed price.

The FTC next year will host a series of seminars to examine the privacy implications of three new areas of technology, including alternative scoring.

Citigroup and Wells Fargo were accused of discriminatory mortgage lending by the city of Los Angeles, which seeks damages for reduced property tax revenue and the costs of maintaining foreclosed properties.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said the agency plans to release a report next year exploring how mobile phone use could help expand access to banks.

Metropolitan National Bank in New York is changing its name and ditching its national charter.

The Federal Reserve Board has ended a regulatory action against PathFinder Bancorp (PBHC) in Lake Oswego, N.Y.

The chairmen of BNY Mellon and Signature Bank tackled cyber threats, the future of interest rates and "too big to fail" in a wide-ranging discussion on the state of the industry.

Bank mergers of equals are on the rise, but buyers are giving up their brands to make them happen.

The Federal Reserve Board says it followed a proper system for establishing debit interchange caps and fully abided by the Durbin Amendment's requirement for merchants to have two unaffiliated networks to choose from for routing debit transactions.

Consumer Financial Protection Bureau Director Richard Cordray said down payment standards are among the falsehoods rumored to be in the agency’s mortgage regulation that takes effect Jan. 10.

American Airlines and US Airways have argued that the combined airline will be good for "competition, consumers and choice." But just days before the merger's closing, changes that the airlines have made to a popular credit card reward may end up having the opposite effect.

The ongoing debate over community bank consolidation also extends to big shareholders. While most prefer to see deals, there are a few who argue that well-run banks can stay independent.

JPMorgan Chase is warning 465,000 holders of prepaid cash cards that their personal information may have been accessed by hackers who attacked the bank's network earlier this year, Reuters reports.

LegacyTexas Bank is majority-owned by the family of Carroll Shelby, who famously partnered with Ford Motor Co. to produce the Shelby Mustang muscle car. LegacyTexas has agreed to merge with another bank, but the family will remain involved.

The city of Newark, N.J., is moving forward with a foreclosure-prevention plan that could involve using the power of eminent domain to restructure underwater mortgages.

WASHINGTON — The Federal Reserve Board issued revised standards on Thursday dictating how banks should oversee service providers, including consultants.

China's central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.

A new technology announced Thursday morning by ID Quantique encrypts data traveling between data centers. One target market is large banks, such as Bank of America, JPMorgan Chase and Citi, that run multiple data centers in the U.S.