Banking

Banks hope that banking regulators will allow them to avoid taking an accounting hit when they offer forbearance to recent college graduates, many of whom are either out of work or underemployed.

Mauch Chunk Trust Company in Jim Thorpe, Pa., has renewed its contract with First Data.

Authorities in Charlotte, N.C., are taking special security measures ahead of Bank of America's annual meeting Wednesday. Protests are already beginning on social media and in the streets today.

American Express Co. said Chief Financial Officer Daniel T. Henry is retiring later this year.

NexTier Bank in Butler has agreed to acquire Farmers & Merchants Bank of Western Pennsylvania in Kittanning.

Citizens Community Bank in South Hill, Va., has hired a new chief financial officer.

Developers should consider incorporating rewards and other tools such as receipt tracking in new mobile payment applications to promote broad adoption.

First National Bank Alaska in Anchorage has picked a 39-year veteran of the bank as its new president.

FNB Bancorp in South San Francisco, Calif., has partially repaid the funds it received under the Treasury Department's Small Business Lending Fund.

NOVI, Mich. – Vibe CU, known till recently as Telcom CU, has revamped its ATM fleet with new Opteva ATMs from Diebold and CO-OP Financial Services that offer the convenience of shared branching at the self-service channel.

HSBC posted a bigger-than-estimated increase in first-quarter profit after provisions for bad loans shrank, stirring speculation the lender may step up its cost-reduction targets.

Revel Systems Inc. is launching a system that adds security to swiped card payments by displaying the accountholder's photo on its iPad-based point of sale terminal.

CO-OP Financial Services is offering a card-based local merchant rewards program that encourages credit union members to shop within a small area.

ROCKVILLE, Md. – National Institutes of Health FCU opened a branch in the National Cancer Institute’s new Rockville offices.

Shareholders of First Citizens Bancshares (FCNCA) rejected a proposal that would have limited the control of the family that has run the Raleigh, N.C., company for generations.

The government must act to reform Fannie and Freddie before the refinancing boom comes to a close, says the president of the Mortgage Bankers Association. Even without legislative action, policymakers can improve oversight and invite private insurance capital back into the market.

New York Attorney General Eric Schneiderman stands alone in announcing a lawsuit against Bank of America and Wells Fargo for violations of the $25 billion mortgage settlement. But that may soon change.

New York's attorney general blasted Wells Fargo and Bank of America for "flagrantly" disregarding their promises to help homeowners under last year's 49-state mortgage servicing pact.

Other banks say small acquisitions take too much work, but Sterling Financial says a good, small deal is better than a risky, big one.

Two payments technology veterans are working on a mobile wallet that would not require changes to the hardware and software at the point of sale.