Banking

Now that vendors have beefed up security and reliability, most large banks around the world plan to spend more on cloud computing services — a big increase from just a year ago.

Fidelity Labs, a unit of Fidelity Investments, announced Monday that it has launched a Market Monitor app for Glass, Google's wearable computer.

JPMorgan Chase on Monday reiterated its support of the Isis mobile wallet, set to roll out later this year. JPMorgan originally said in February 2012 that it was working with Isis, a joint venture of AT&T, T-Mobile and Verizon.

Many community bankers are looking to expand into new types of activity to bolster their results in a time of sluggish loan demand. However, venturing into everything from wealth management to credit cards to cybersecurity poses formidable risks as well as rewards. American Banker staffers discuss the trend.

Canadian Imperial Bank of Commerce is in talks to sell about half its Aerogold credit-card portfolio to Toronto-Dominion Bank, the lender that's taking over as the main card partner for Aimia's rewards program.

John Koelmel will receive a severance package from First Niagara Financial Group (FNFG) that is 38% smaller than previous reports had indicated.

The Office of the Comptroller of Currency has terminated a written agreement with Coastal Banking in Beaufort, S.C.

United Community Financial in Youngstown, Ohio, blamed its second-quarter loss on an accounting matter.

New York's banking regulator issued subpoenoas to about two dozen companies associated with bitcoin as it looks into the virtual-currency industry, the Wall Street Journal reported, citing people familiar with the matter.

A steady stream of subpoenas, crackdowns and settlements involving big banks indicates that regulators are continuing to work through a big backlog of cases related to the housing downturn and financial crisis. Other investigations involve brand new issues, like payday lending and debt collection. One certainty: For banks litigation risk keeps on rising.

New York’s banking regulator issued subpoenoas to about two dozen companies associated with bitcoin as it looks into the virtual-currency industry, the Wall Street Journal reported, citing people familiar with the matter.

GLOVERSVILLE, N.Y. – Fulton County FCU will open a branch inside the new Walmart Supercenter Wednesday.

Bank of Wausau was shut down by Wisconsin regulators Friday.

Roma Financial (ROMA) in Robbinsville, N.J., swung to a loss in the second quarter thanks to a check-kiting scheme.

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

Deal activity was hottest in the Southeast and Midwest, Stifel and KBW moved up in the advisory rankings after combining forces and a BankThink point-counterpoint addresses the taboo subject of whether bank mergers are worth doing.

Jacksonville Bancorp (JAXB) in Florida recorded its second straight quarterly profit as it continues to clean up its loan portfolio.

Prosperity Bancshares is finding that its recent deals — which allowed the Houston company to expand in highly coveted businesses such as private banking and cards — are producing a nice boost to fee income.

Online payday lenders have been tying up with Native American tribes in a bid to exert sovereignty claims as a way around interest rate caps. This week's move by New York's Benjamin Lawsky reflects regulators' increased focus on shutting down this fast-growing piece of the payday loan market.

The $902 million-asset company said Friday that it plans to shut down First Financial Diversified, which provides escrow services to First Financial and other customers.