Banking

Lawsuit filings dropped dramatically in May in all three key consumer statute categories - Fair Debt Collections Practices Act, Fair Credit Reporting Act and Telephone Consumer Protection Act, according to WebRecon LLC, a Grand Rapids, Mich.-based company that tracks the data from U.S. district courts.

American Express Co. named McKesson Corp.’s Jeffrey C. Campbell as chief financial officer.

OVERLAND, Kan. – Mazuma Credit Union said it will break ground on a new 60,000-square-foot headquarters on July 11.

ALTOONA, Penn. – Altoona Regional Health System FCU on Thursday opened its new main office, which features energy efficient office facilities and areas for new accounts, tellers, investments, financial education, coin counter, drive-thru service, and a 24-hour ATM.

JACKSONVILLE, Fla. – VyStar CU has agreed to sell its former 43,539-square-foot call and operations center for $1.6 million to Edu-Pro management, which will use it to develop the first Acclaim Academy charter school in the area.

Banks on the block are still trading at reasonable valuations, and their financials are offering more clarity than in the recent past. That's has some industry observers believing that the stars are aligning for deals to get done. For sellers, the dilemma is whether to take the modest multiples on offer or hold for more at the risk of missing out altogether.

PNC (PNC) on Thursday rode out a slowdown of its online banking service that left some customers unable to log in to their accounts.

Republic First may try to revive its 2008 deal to sell itself to Metro Bancorp. That effort died at the feet of regulators but still makes sense in the eyes of some. Other banks are said to be asking similar questions about old deals.

American Express Co., the biggest U.S. credit-card issuer by customer purchases, named McKesson Corp.'s Jeffrey C. Campbell as chief financial officer.

The Senate Banking Committee will hold a confirmation hearing on June 27 for North Carolina congressman Mel Watt to lead the Federal Housing Finance Agency.

Data providers are aggressively marketing products aimed at providing lenders a better picture of consumers who don't have credit reports, but significant barriers are slowing the growth of alternative inputs for credit scores.

The Metrolink rail system in Southern California is offering commuters a "smart" paper ticket as part of the transit access pass, or TAP, smart card system operating on Los Angeles buses and trains since 2007.

Whether the product is a video game or a bank account, no business should take customers for granted or underestimate competitors.

Deloitte's yearlong exile from New York's financial services consulting scene is harming the reputation of its financial technology consulting business, according to two executives in charge of tech operations at banks.

Freddie Mac plans to eliminate a $7,500 annual low-activity fee that has met with a backlash among rural banks that sell a small number of loans each year to the government-sponsored enterprise.

The Mississippi Department of Revenue is providing its agents with mobile devices to accept credit or debit cards for tax payments.

Farmers & Merchants in Long Beach, Calif., has grown significantly since 2008 largely because of successful efforts to keep key employees from bolting.

White House efforts to promote voluntary sharing of information about cyber threats among banks represent "an important step" but a presidential directive cannot substitute for a law, Treasury Secretary Jack Lew said.

Banks are sitting on hundreds of thousands of vacant homes that are in foreclosure and repossessed properties at a time when housing inventory is at a low point, RealtyTrac said.

Fonetic, a Spanish company that provides speech analytics and voice recordkeeping software for compliance purposes, is opening its doors in the U.S. today, in the Wall Street area. It's targeting large New York banks first.