Banking

TD Bank Group acquired half of CIBC's Aerogold card portfolio mainly to provide more card services for its customers and solidify its position as the top issuer in Canada, TD Bank CEO Ed Clark told investors Sept. 16 during a conference call.

The Federal Deposit Insurance Corp. has filed more lawsuits against the directors and officers of failed financial institutions in 2013 than in any year since the recession, according to a Cornerstone Research report released Monday.

Many regulators and pundits overlook the distinct difference between responsible lenders who offer a safe, reliable loan product, and unscrupulous lenders who commit fraudulent acts and scam consumers.

The latest revelations about the National Security Agency confirmed what many in the payments industry had long suspected: the agency is watching electronic transactions along with communications.

The financial lure of credit cards has become increasingly hard to resist for regional banks that exited the business several years ago.

King Bancshares in in Kingman, Kan., has merged its consumer finance unit, Western Credit, into its Citizens Bank of Kansas.

American Express, Wells Fargo and Citigroup are continuing to sell controversial credit card payment protection and monitoring services, even as the industry braces for a second round of regulatory crackdowns.

The most significant aspect of Apple's forthcoming iPhone 5S smartphone, some say, is the powerful new processor it will contain that may allow applications to handle large data sets more efficiently.

What to do with the mass affluent, who want some investment help but won't pay hefty fees? Startup Trizic offers a do-it-yourself investing site banks can white label.

OnDeck, a New York-based online lender that makes small-business loans, announced Monday that it has raised $130 million in new debt funding.

Fiserv has launched a program to help banks deal with the implications of new requirements from the Internal Revenue Service.

Banc of California (BANC) in Irvine has acquired the investment advisory firm Palisades.

Bank of America Merrill Lynch has created a centralized data repository that aims to help businesses keep better track of account transactions.

James Rohr plans to leave the board of directors of PNC Financial Services (PNC) in April, one year after stepping down as chief executive.

Hampden Bancorp sent a letter to shareholders urging them to reject as board members two candidates proposed by Clover Group, a Dallas hedge fund that controls about 6.8% of Hampden's voting rights.

NewDominion Bank in Charlotte, N.C., has promised to decide on applications for certain commercial loans within three days, or pay $3,000 toward closing, in hopes of speeding its own recovery.

Canadian Imperial Bank of Commerce agreed to sell about half its Aerogold Visa credit-card portfolio to Toronto-Dominion Bank, which is preparing to start its own Aeroplan rewards card in January.

PORTSMOUTH, N.H. – Service CU announced it has opened a branch inside the Walmart Supercenter in Hinsdale.

The Office of the Comptroller of the Currency shuttered the $3.1 billion-asset First National Bank in Edinburg, Texas, and it was sold by the Federal Deposit Insurance Corp. in a deal estimated to cost $637 million to the Deposit Insurance Fund.

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