Banking

Community bankers from Kentucky, Utah and North Dakota discuss specific ways they use Facebook, Pinterest and other social media to get to know their customers better and look engaged in their towns.

Heartland Payment Systems has chosen Alaric's fraud-prevention system.

First National Community Bank in Dunmore, Pa., has selected a core banking system from Fiserv.

On the eve of Quantum Dawn 2, the cybersecurity exercise SIFMA is conducting to test the banking industry's ability to cope with cyberattacks, a new report suggests that cyberattacks continued to increase in the second quarter of 2013.

Heartland Payment Systems will use Alaric's Fractals fraud prevention and detection product to monitor the 300 million card transactions it processes each month.

Wintrust Financial Corp. in Rosemont, Ill., reported a rise in second-quarter profit thanks to higher fee income and lower interest costs.

Banks and payment card providers would face caps on the transaction fees they can demand from retailers under European Union plans to rein in charges that have been attacked by regulators as anticompetitive.

The Federal Trade Commission told a U.S. Senate subcommittee Tuesday that it is cracking down on illegal debt collection practices through a program of vigorous law enforcement, education and public outreach, and research and policy initiatives.

The CEO of Taupa Lithuanian CU, who is being investigated in this week's failure of the $24 million credit union, is refusing to surrender to police, prompting a standoff at his home here last night into this morning.

Sen. Elizabeth Warren, architect and founder of the Consumer Financial Protection Bureau, says agency is "the law of the land, and … here to stay."

Companies that provide on-demand, cross-account control and recommendations are best positioned to serve evolving consumer behavior. Banks that don’t get ahead of this shift could be relegated to the role of back-end infrastructure provider.

Investment gains helped M&T Bank Corp. in Buffalo, N.Y., record a spike in quarterly profits.

Bank of America (BAC) said profit rose 63% in the second quarter, beating analysts' estimates as the company kept expenses in check.

U.S. Bancorp (USB) said second-quarter profit rose 4.9% as the firm cut expenses and set aside less for soured loans.

PNC Financial Services (PNC) said second-quarter profit more than doubled, beating analysts' estimates, as fee revenue surged and the firm set aside less for bad loans.

Profit rose 37% at Pinnacle Financial Partners (PNFP) in Nashville, Tenn., on the strength of its lending and fee income.

Spain's Banco Santander abruptly replaced the chief executive of its U.S. operations Tuesday.

Robert Wahlman will become CFO of the $3.8 billion-asset company and its bank on Aug. 13, Customers announced Tuesday.

Florida Community Bank in Naples is partnering with Raymond James Financial (RJF) to offer its customers asset management services.

The Senate's approval of Richard Cordray's nomination to run the Consumer Financial Protection Bureau does more than give the agency a permanent director: it also removes Republicans' biggest bargaining chip in their longstanding push to force key structural changes at the agency.