Banking

Citigroup is migrating its commercial card business in Turkey to its global platform, as the bank plots additional moves into Russia and other markets.

Bank buyers are starting to pay more for assets; valuations soared this month in Prosperity’s deal for FVNB and MB Financial’s deal for Taylor Capital, which could be the sign of increased prices for future bank M&A.

The bank of the future is a humanizing bank, where the focus is on relationships, intimacy, depth, and human connection – supported by technology.

Premiere Credit of North America, a collection agency based in Indianapolis, will be adding 100 new jobs to its Batavia, N.Y. call center that opened early last year.

The PayVest event in New York, presented by PaymentsSource, American Banker and NYPAY, brought together many key players in emerging payments and technology. Many of them are taking different paths to the future.

TCF Financial Corp. (NYSE: TCB) in Wayzata, Minn., has hired a PNC Financial Services Group (PNC) executive to be its chief risk officer.

The $1.6 billion-asset company reported Friday that it earned $2.8 million in the second quarter, up 6% from the same period in 2012.

Sen. Elizabeth Warren, D-Mass., was the Senate's presiding officer when lawmakers confirmed Richard Cordray as director of the Consumer Financial Protection Bureau.

John Koelmel recently became the president of HarborCenter Development, a Buffalo, N.Y., real estate company with ties to a professional hockey team.

Wells Fargo and Citigroup are laying off hundreds of employees in their mortgage units as rising interest rates cause home loan refinances to plummet. More layoffs by banks with heavy exposure to mortgages are expected this year.

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Second-quarter profits at Tompkins Financial Corp. in Ithaca, N.Y., rose on increased loan revenue and fees, but fell short of analysts' estimates.

The Buffalo, N.Y., company is bolstering its commercial lending and auto finance businesses while it looks to replace ousted CEO John Koelmel.

First Horizon National Corp. in Memphis missed second-quarter profit estimates as its lending and fee income slid.

Associated Banc-Corp (ASBC) in Green Bay, Wis., announced second-quarter earnings of $47 million, up 12% from a year earlier thanks to higher net interest income and mortgage banking revenue.

Green Dot Corp.'s GoBank account is being featured on Lifetime's Project Runway.

The federal government says it may build databases of credit card transactions, hotel records and Internet searches as part of counter security measures.

Executives at SunTrust hope higher interest rates eventually translate into more new mortgages and wider margins, but the hit to its refinancing business is forcing cost cuts and balance sheet adjustments now.

The Georgia company is finally ready to exit the Troubled Asset Relief Program, allowing executives to set their sights on increasing revenue.

Yodlee has announced a new suite of wealth management tools available for banks and investment firms to offer their clients, collectively called WealthCenter.