Banking

A young company called Bionym is testing a wristband that it says will authenticate online and mobile banking customers through a quick electrocardiogram.

The Troubled Asset Relief Program will cost taxpayers less than expected.

Total System Services Inc. will continue to process payments for U.K.-based Nationwide Building Society, considered the largest building society in the world based on its assets and 15 million members.

The U.K. Help to Buy guarantee program provides a good example of how a private-public risk-sharing arrangement could be structured among mortgage insurers, lenders and the government.

Financial-technology and payments company FIS has named its president and chief operating officer, Gary Norcross, to its board of directors.

Sallie Mae (SLM) is seeking to separate its education loan management and consumer banking businesses into two publicly traded entities.

Clip, which sells mobile payments technology in Spanish-speaking markets, has developed a mobile card reader.

Bank of Montreal, Canada's fourth- biggest lender, posted second-quarter profit that missed analysts' expectations after taking charges tied to cost-cutting and its takeover of Wisconsin lender Marshall & Ilsley Corp.

The banking industry earned a record $40.3 billion in the first quarter as rising noninterest income and the continued drop in loss provisions made up for declines in interest-related income, the Federal Deposit Insurance Corp. said Wednesday.

Wal-Mart Stores Inc. and Amazon.com Inc. joined more than 30 of the biggest U.S. retailers in objecting to a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees, saying the deal is meaningless when card companies can continue to fix the charges.

Skowhegan Savings has agreed to buy five branches from fellow Maine lender Camden National Corporation.

JPMorgan Chase named former U.S. Treasury Department official Darius Kingsley as co-general counsel of mortgage banking.

RALEIGH, N.C. – State Employees’ CU announced this morning it has signed with Diebold to update and replace more than 1,100 ATMs, the biggest ATM fleet owned by any credit union.

Mike Passilla, JPMorgan Chase's new merchant services boss, didn't take a sledge hammer to the digital payment startups that are chewing away at incumbent payments companies, but his message was clear—Chase is one of the biggest guys on the block, and it plans to use its data and technology heft to win in the merchant acquiring game.

TRAVERSE CITY, Mich. – Traverse Bay Area CU plans to build its new headquarters at a site contaminated by a former gas station.

Citigroup has agreed to settle a lawsuit by the federal government that charged the bank with misleading investors in the run-up to the mortgage meltdown.

American Banker debuts a monthly gauge of U.S. mobile banking activity among banks and their customers.

The Treasury Department has proposed a rule designed to seal off the U.S. financial system from Liberty Reserve, the digital currency issuer authorities charged Tuesday with laundering more than $6 billion for criminal groups.

Momentum is building on both sides of the aisle for significant reform of mortgage giants Fannie Mae and Freddie Mac. American Banker staffers discuss what's behind the Senate's rare show of bipartisanship.