Banking

Watches. Eyeglasses. Wristbands. Wearable computing is fast shaping into a potential tool bankers may someday use to speak to customers.

Federal policymakers should make payday lenders structure their loans to be repaid over time, according to a report released Wednesday by the Pew Charitable Trusts.

WASHINGTON — Nearly two-dozen senators are seeking data the Consumer Financial Protection Bureau used as the basis for warning auto lenders they could be committing fair-lending violations.

A bill designed to make operating prize-linked savings accounts easier for federally-insured financial institutions was introduced by members of Congress on Tuesday.

The Pennsylvania company is raising $150 million. Two-thirds of it will go toward redeeming trust-preferred securities, but the remaining funds could be used to do bigger deals.

American Banker's monthly pulse reading of mobile banking activity shows no sign of slowdown in usage.

Mashreq Bank plans to open a branch in January without any staff, reports Arabian Business.

The Consumer Financial Protection Bureau got a confirmed director for the first time this year, when the Senate finally approved the longstanding nomination of Richard Cordray for the post. But the agency has also sustained the departures of high-ranking employees to law firms, consulting shops, banks and other destinations. Here's a look at some of the CFPB employees who have left in 2013, and where they have landed.

The Capital Asset Pricing Model’s value is debatable in normal times. If misapplied in today’s ultralow interest rate environment, it can severely overvalue banks and excuse poor operating performance.

MasterCard, echoing remarks made 16 hours earlier by Visa, is placing security at the heart of its emerging payments strategy.

Another big law like Dodd-Frank could be harmful to the mortgage market, but an incremental approach to housing finance reform might be the perfect solution.

Three federal home loan banks dropped their opposition to Bank of America's $8.5 billion settlement in a New York state court lawsuit over Countrywide residential mortgage backed securities.

A St. Louis accelerator that counts Square-co-founder Jim McKelvey among its founders, is doling out cash to several fintech startups. SixThirty — named after both the height and width of the city’s Gateway Arch (630 feet) -- is being backed by the St. Louis Regional Chamber and Midwest investment firm Cultivation Capital. The fintech accelerator launched in early August.

MasterCard reported a third-quarter profit that beat analysts' estimates as a stronger euro helped boost revenue.

CommunityOne Bancorp (COB) in Asheboro, N.C., reported its first quarterly profit since 2008.

Debt buyer Portfolio Recovery Associates Inc. reported third quarter financial results that included record revenues of $197.8 million, up 31% from the year-ago period.

The best banks to work for often provide their employees with good benefits and flexible schedules — but they also have more specialized perks, from free rental cars to career counseling, according to American Banker Magazine's November cover story. Editor-in-Chief Heather Landy discusses what sets some banks apart in the workplace.

Mortgage servicer Ocwen Financial (OCN) in Atlanta missed Wall Street's earnings estimates because of delays in integrating servicing rights portfolios it acquired.

United Credit Recovery LLC, a Florida-based financial firm, allegedly attempted to collect overdue debts from consumers by creating phony legal documents that included cut-and-paste bank logos, according to a lawsuit filed by Minnesota Attorney General Lori Swanson's office.

Allowing a further transition period of nine to 12 months would better ensure complete compliance with all the requirements. Meanwhile, community banks will be able to continue providing the safe and solid mortgage loans they are known for.