Banking

As a fast, low-cost payment system, Bitcoin provides healthy competition for legacy banks. It's also a bulwark for financial privacy and freedom of speech.

As a fast, low-cost payment system, Bitcoin provides healthy competition for legacy banks. It's also a bulwark for financial privacy and freedom of speech.

Lew Goodwin, head of Green Dot Bank, and Alex Sion, president of Moven, hope to draw market share away from traditional banks with their digital banking offerings. One method: telling consumers at all times where their money is.

James Gardner, who co-founded investment firm Commerce Street Holdings in Dallas, died last week from congestive heart failure.

First Financial Service in Kentucky and State Employees' Credit Union in North Carolina believes their products are responsible and avoid taking advantage of borrowers. But they are concerned that the CFPB could pressure them to end their programs.

A prototype of what wearable computing apps could look like in banking came to market Monday.

The DBA International Certification Council announced the approval of several firms to perform independent third-party audits as part of DBA International’s Debt Buyer Certification Program.

ESSA Bancorp (ESSA) in Stroudsburg, Pa., has agreed to buy Franklin Security Bancorp in nearby Wilkes-Barre.

The Office of the Comptroller of the Currency issued cease-and-desist orders against three banks in October and released seven banks from enforcement actions.

The same thing that doomed communism will likely undermine Bitcoin: the fantasy that a protocol, a procedure, a network, an algorithm can neutralize the ugly selfish traits of human beings.

The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency.

The former chairman and chief executive of the failed Summit Bank in Burlington, Wash., has been sentenced to three years in prison for concealing millions of dollars in past-due loans.

Discover Financial Services said it will provide FICO scores to customers on their monthly bill at no cost.

Pacific Premier Bancorp (PPBI) in Irvine, Calif., has agreed to acquire chain-restaurant lender Infinity Franchise Capital.

With their regulatory status, refined customer identity procedures and global infrastructure, banks could offer bitcoin exchange services and lead the modernization of financial services. Instead, they’re freezing Bitcoin entrepreneurs’ accounts.

A detailed look at how the freshman senator from Massachusetts has used her first 10 months in office, including her own insights from an interview with American Banker.

JPMorgan Chase (JPM) has agreed to pay a group of financial services companies $4.5 billion to settle mortgage-repurchase and servicing claims.

The pairing of Rockville Financial in Connecticut and United Financial in Massachusetts would create a $5 billion-asset bank that can get more efficient yet invest in growth. More deals like it have been happening around the country this year.

A new grant for financial technology startups offers entrepreneurs the chance to win $50,000 cash. The grant will be awarded to one fintech company that completes a six-week business program sponsored by the Technology Association of Georgia.

Community Trust Bancorp (CTBI) in Pikeville, Ky., faces sanctions from the Federal Reserve Board over its assessment of overdraft fees.