Banking

Although its third quarter net income dropped 7% year-over-year, Discover Financial Services remains confident in the opportunities it has invested in for the future.

Third-quarter earnings at Zions (ZION) more than tripled from a year earlier after the company bought back a series of preferred stock.

Favorable trends in its flagship credit card business helped Discover Financial Services (DFS) post solid results in the third quarter.

John Marshall Bank in Reston, Va., plans to sell up to $30 million worth of common stock.

In a 113-page brief filed with the U.S. Court of Appeals, the Fed argued it had followed congressional intent in drafting the provision required under the Dodd-Frank Act, which mandated that the central bank establish how much banks can charge merchants in interchange fees for debit cards.

Pacific National Bank in Miami has found a buyer.

The cost to originate a home loan is skyrocketing as lenders try to comply with stricter rules to catch problem loans. Technology would better automate the loan process, but can small lenders justify the investment?

Northwest Bancshares (NWBI) in Warren, Pa., reported a 12% rise in quarterly earnings as its asset quality improved and its costs fell.

Bankers must resist the urge to obsess over the hassles of QM and other new rules, says Jeff Plagge, the new chairman of the American Bankers Association and CEO of Northwest Financial in Iowa. Doing so distracts them from adequately serving customers and contributing to economic growth, he says.

Staff in the call centers and elsewhere are fed current information about the customer's holdings and activity throughout the bank and suggestions about what to advise or offer in that moment.

Lendio, a Utah startup that has served as an online small business loan lead generator for banks, has expanded its services to include a management tool designed for small business lending departments.

MasterCard is rolling out a service to allow its corporate clients to monitor and control travel costs.

CFPB director Richard Cordray told attendees at the American Bankers Association's annual conference that the bureau will be flexible with banks that make "good faith" efforts to comply by January.

Online investment management service Betterment LLC will acquire ImpulseSave, a startup that designs software meant to encourage people to save.

Arrow Financial (AROW) in Glens Falls, N.Y., attributed a dip in third-quarter profits to the continued low interest rate environment.

First Niagara Financial Group (FNFG) in Buffalo, N.Y., has promoted executive John Golding to senior director of small-business banking.

Former Amex executive David Bonalle has created an analytics center of excellence and is ensuring that every major decision at the bank is backed up with numbers.