Banking

The $552 million-asset company announced the formation of wholly-owned subsidiary Mackinac Commercial Credit in a press release Friday.

The Federal Deposit Insurance Corp. is facing accusations that it is forcing banks to cut ties with online payday lenders, but the agency says it is only urging banks to be on guard about merchant relationships that elevate their risk.

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

Big bank executives in New York need to visit the heartland and get in touch with Main Street to cure lingering public resentment, St. Louis Fed President James Bullard said.

Wingspan Portfolio Advisors, a mortgage service provider, has agreed to take over the lease on a customer service operation in Monroe, La., from JPMorgan Chase (JPM) with the help of state subsidies.

Washington Trust Bancorp (WASH) in Westerly, R.I., has hired a veteran banker as its president and chief operating officer.

Cordia Bancorp (BVA) in Midlothian, Va., has hired Mark Severson as chief financial officer.

An old malware variant has revisited roughly two dozen financial institutions — among them Bank of America, Capital One, U.S. Bancorp and Sovereign Bank — according to in-the-cloud security company Zscaler.

Wesley A. Brown, a Denver investment banker and member of the Alpine Rescue Team, is trained to save your bank — or you, if you get stuck in the mountains of Colorado. Recent floods there put his skills, and those of his teammates, to the test.

A Small Business Administration program intended to give veteran-owned companies easier access to loans has come under fire for high default rates that have cost taxpayers over $31 million.

The Federal Reserve's rules for debit-card transaction fees and processing will remain in place while the central bank appeals a decision throwing out the regulations, a judge said.

Fiserv announced Thursday that First National Bank of Long Island is using its common origination loan platform.

Panini has promoted Michael Pratt to CEO, replacing John O'Malley, who has left to pursue other interests, the Torino, Italy-based financial technology company announced Sept. 20.

Penns Woods Bancorp (PWOD) in Williamsport, Pa., has picked Robert Glunk to be the next president of Luzerne Bank, a subsidiary it acquired this year.

The Museum of American Finance is dedicating its largest exhibit ever to an examination of the Federal Reserve System's history, culture and role in the U.S. over the past 100 years.

Consumers who were duped in a fraudulent telemarketing scheme operated by JPM Accelerated Services will be getting refunds from the Federal Trade Commission.

Promotion to CEO roles will continue to be a challenge for women as the industry continues to consolidate.

The Consumer Financial Protection Bureau and the Department of Justice are examining the lending operations of major auto manufacturers for possible discrimination in lending, according to regulatory filings and three people briefed on the inquiry.

London police arrested eight men in connection to a 1.3 million pound ($2.1 million) computer-aided robbery from a Barclays Plc branch in the capital.

BitPay, a Bitcoin payment services provider, has added support for Intuit's popular Quickbooks software.