Banking

BB&T reported lower quarterly earnings, as a large tax adjustment overshadowed the Winston-Salem, N.C., company's struggles to boost net interest income.

The new normal in consumer statute lawsuit numbers appears to be an increase in Telephone Consumer Protection Act (TCPA) filings and a decrease in both Fair Debt Collection Practices Act (FDCPA) cases and Fair Credit Reporting Act (FCRA) filings, according to Grand Rapids, Mich.-based data firm WebRecon LLC.

SaveUp announced Wednesday evening the personal finance startup's first native app for iPhone.

Astoria Financial (AF) in Lake Success, N.Y., posted a higher third-quarter profit as improved credit quality more than offset lower mortgage revenue.

Umpqua Holdings (UMPQ) in Portland, Ore., posted lower quarterly earnings after mortgage-related fees fell.

PNC, U.S. Bancorp and KeyCorp all reported loan growth of at least 5% in the third quarter as they focused heavily on strengthening customer relationships and reaped the benefits of expansion into new markets or business lines. Still, revenue and other challenges remain.

BOK Financial Corp. (BOKF) in Tulsa, Okla., is launching an online mortgage sales channel that will allow the company to reach prospective home buyers in all 50 states.

The Consumer Financial Protection Bureau is urging policymakers to revamp the disclosure requirements and modification programs of private student loan servicers, similar to changes already enacted in the mortgage industry.

Valley Financial (VYFC) in Roanoke, Va., has exited the Troubled Asset Relief Program after issuing $11 million in subordinated debt to an unnamed accredited investor.

American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts’ estimates as customer spending climbed.

Bank of America posted strong revenue growth in the same quarter its big rivals showed weakness on bread-and-butter banking. But concerns about its higher litigation expenses overshadowed the good news.

An executive order in February called cyberthreats one of the most serious national security challenges our nation faces. Too bad most cybersecurity personnel were furloughed as part of the shutdown.

Lenders continued to face headwinds in the third quarter as consumer loan demand weakened slightly in some parts of the country while others saw a small boost, according to a Federal Reserve Board report released Wednesday.

Capital One and General Motors are extending their co-branded card partnership with the introduction of a new GM MasterCard from Capital One.

New York Attorney General Eric Schneiderman has named veteran litigator Chad Johnson to head the state's investor-protection bureau.

Quarterly revenue rose at Community Trust Bancorp (CTBI) in Pikeville, Ky., as its loans and fee income grew.

The chief executive of Banco Popular, Richard Carrión, (BPOP) has resigned from his roles on the International Olympic Committee.

Quarterly profit fell at Westamerica Bancorp (WABC) in San Rafael, Calif., on weaker loan revenue.

Fraud against the elderly is expected to rise as the nation's baby boomers near retirement. Bankers and regulators are keen on trying to get ahead of the issue.

If the states are determined to reform force-placed insurance and the CFPB is determined to reform add-on products, they should propose rules and subject them to meaningful public notice and comment periods.