Banking

Federal Savings Bank in Kansas is growing by making mortgages to veterans, a business that other lenders have botched.

Sun Bancorp in Vineland, N.J., will close three branches near the Philadelphia suburbs as looks to cut costs.

The unit of the $355 billion-asset U.S. Bancorp (USB) said Thursday that Harley Marine, a transportation company based in Seattle, will use On-Site Electronic Deposit Mobile to deposit checks remotely.

Southwest Airlines, Pacific Convenience & Fuels LLC, RaceTrac and Brinker International Inc. have joined the retailer-driven effort to establish a mobile wallet for merchants and consumers, the Irving, Texas-based MCX announced May 9. Brinker is the parent company of Chili’s Grill & Bar and Maggiano’s Little Italy.

New research from Synergistics points out the unintended consequences of branch closures.

Service meant to help companies avoid the "shadow IT" problem.

A former loan officer at Wilmington Trust in Delaware is facing jail time after pleading guilty this week to bank fraud.

BancorpSouth in Tupelo, Miss., is offering early retirement to about 10% of its workforce in an attempt to cut costs.

The $394 million-asset Broadway Financial said Wednesday that its Broadway Federal Bank recently sold $8.7 million in loans to an unnamed buyer for an undisclosed price.

Anti-secrecy website WikiLeaks can again accept credit card donations after Valitor hf, the Icelandic partner of MasterCard Inc. and Visa Europe Ltd., began processing payments after losing a court case.

LOS ANGELES – NCUA asked a federal court here yesterday to reconsider a March ruling dismissing the vast majority of $491 million of claims against Goldman Sachs for mortgage-backed securities the Wall Street bank sold to corporate credit union failures U.S. Central FCU and WesCorp FCU, or at least certify the issue for an immediate review by the U.S. Court of Appeals.

National Bank Holdings in Greenwood Village, Colo., has created a specialty finance business to focus on middle-market companies.

Community Partners Bancorp in Tinton Falls, N.J. is getting a new name.

Fannie Mae will pay the Treasury Department $59.4 billion after reporting a record quarterly profit driven by rising home prices and declining delinquencies.

Near Field Communication technology has many detractors, yet it continues to advance as a mobile payments instrument. Banks should thus view NFC as an opportunity to ensure they stay relevant to customers' payments, according to a new Celent report.

Advantage Refreshments knows its vending machines look just like those operated by rivals, so it's trying to attract repeat business with a loyalty program from payments hardware maker USA Technologies.

Koupah, which is providing a new point of sale card acceptance tablet, aims to offset credit card transaction fees with ads.

The Consumer Financial Protection Bureau is pushing for private student lenders and the government to help lower payments for borrowers after receiving thousands of complaints from consumers.

The Dodd-Frank Act's ban on pure commercial ownership of industrial loan companies is set to expire in July. American Banker editors discuss the pros and cons of allowing a commercial enterprise like Wal-Mart into the banking business at a time when the previous argument against doing so has been turned on its head.

New research suggests that consumers are becoming more comfortable using mobile devices for their financial services' needs.