Banking

The $130 million-asset parent of Guernsey Bank said Tuesday it would pay roughly $5 million for Ohio State, which has three branches in the Columbus area.

New nonbank companies entering the payments industry should be subject to the same regulatory oversight and transparency requirements as their financial institution peers, according to a report released by the American Bankers Association.

The $804 million-asset bank will offer as many as 1.45 million shares to the public at $14.25 a share, which could produce as much as $20.7 million.

Cambridge Savings Bank in Massachusetts has hired new chief financial and marketing officers.

A prominent group of policymakers from across the political spectrum has unveiled a detailed proposal to reform the mortgage finance system that includes many common elements found in pending Senate legislation.

The Federal Housing Finance Agency has hired a force-placed insurance industry lobbyist to simultaneously advise the government on the same issues. Is the move is indicative of a federal housing regulatory regime that's been coopted by the regulated?

Heritage Commerce (HTBK) in San Jose, Calif., has teamed with a Bay Area nonprofit group to help low-income entrepreneurs secure startup capital.

Fulton Financial (FULT) in Lancaster, Pa., is extending a share repurchase program by three months.

Regulators are looking more closely at the way banks choose and manage their vendors. One insider tip: clue the regulators in to new projects ahead of time.

A number of recent deals in the state could spur more Virginia banks to buy or sell. However, big out-of-state buyers are unlikely to get involved because there are few large targets left.

A survey of worldwide consumer habits by First Data shows that 71% of respondents expect to be able to access their financial accounts in real time.

Contradictory regulations, such as the CFPB's QM standards and HUD's new fair lending rules, inhibit banks’ ability to devote resources to their businesses.

An adaptation of the Zeus malware kit targets job seekers and dupes them into funneling cash from a victim's bank account into criminals' pockets.

Deutsche Bank reached a settlement with the city of Los Angeles to resolve a lawsuit claiming the bank acted like a "slumlord" and let foreclosed homes in low-income neighborhoods fall into disrepair.

The big five servicers technically passed the first test of their compliance with the $25 billion national mortgage settlement, but four of them failed to meet at least one requirement and the settlement's monitor received nearly 60,000 complaints.

A picture is worth a thousand words - even in financial services. In the wake of the success banks have had offering mobile check deposit, banks and startups are finding reasons to allow people to submit other types of images through mobile apps. Here are five companies that are encouraging customers to snap that receipt, financial narrative or bill. The art helps customers do banking tasks quicker; the companies get their claws into more customer data.

Stockholm-based iZettle is bringing its mobile card reader into Mexico.

The Consumer Financial Protection Bureau is spending too much on top officials' salaries, travel and a planned office renovation, Republicans said during a House Financial Services subcommittee hearing on Tuesday.

Taylor Capital Group (TAYC) in Chicago has hired David Drury, a General Electric Capital executive, to head sales and capital markets for its equipment-finance unit.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification Program.