Banking

Consumer credit in the U.S. rose more than projected in September as borrowing for car purchases and education climbed.

Debt buyer Encore Capital Group Inc. on Thursday reported financial results for the third quarter ended September 30, including gross collections from the portfolio purchasing and recovery business of $379.7 million, a 54% jump over the $246 million in the year-ago period.

The Houston-based division of Spanish banking company Banco Bilbao Vizcaya Argentaria said Thursday it has begun offering mobile deposit to eligible small businesses and new consumer banking customers.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

New technologies, strict employee training, cost control and a little psychology are some of the things small-business lenders have tried to counter falling demand and bargain shopping.

The smallest community banks are largely exempt from many new regulations, but their CEOs are still facing mounting compliance burdens and heightened concerns over competition with credit unions. American Banker Community Editor Paul Davis reports from his recent meeting with leaders of small banks.

Capital One (COF) is allowing customers to access its mobile banking app with "pattern passwords" — unique patterns traced on the screen of the phone with a finger.

The Treasury Department is taking a roughly 45% discount its latest auction of Troubled Asset Relief Program shares.

First Mariner Bancorp (FMAR) in Baltimore recorded a large third-quarter loss after its mortgage revenue fell by more than 80% from a year earlier.

StoneCastle Financial in New York launched its $110 million initial public offering Thursday.

Banc of California's (BANC) president has resigned after the Irvine company reported a large quarterly loss and dive in its capital ratios.

Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., made big gains in the third quarter because of lower costs tied to foreclosed properties and repossessed assets.

Peapack-Gladstone Financial (PGC) in Bedminster, N.J., has launched a $42 million rights offering.

Fidelity National Financial, the largest U.S. title insurer, promoted Raymond Quirk to chief executive officer as the company expands in the business of providing and analyzing mortgage data.

Eastern Bank in Boston has acquired an insurance agency in Lynnfield, Mass.

Banks nationwide agree: Costly branches must evolve to accommodate modern times, but question marks remain on the how. Higher functioning ATMs, tablet-equipped employees, and video tellers are some of the ways financial institutions are testing out new branch models.

Wintrust Financial (WTFC) in Rosemont, Ill., has renegotiated a $100 million loan agreement with outside lenders.

Merchants labeled high-risk often have trouble finding processors willing to work with them, but they may have better luck if they adopt a digital currency designed to prohibit chargebacks.

The $19.3 billion-asset company plans to merge its Hancock Bank and Whitney Bank subsidiaries in the first quarter of 2014, pending regulatory approval, it said Thursday.

The $649 million-asset company said late Thursday that it had retained Sterne, Agee & Leach, making the announcement after it prevailed in a bitter contest with an activist investor.