Banking

Bank of America (BAC) is replacing credit or debit cards for some its customers in the Midwest because of concern that their accounts may have been compromised, KMOX is reporting.

Beneficial Mutual Bancorp in Philadelphia is the subject of a governmental investigation into its residential real estate lending.

A reduced reimbursement from regulators weighed on quarterly results at First Financial (FFBC) in Cincinnati.

WorldPay, which provides electronic payment processing, has contracted to bring the NFC and EMV capabilities of VeriFone's countertop payment products to merchants.

Total Systems Services Inc. on April 25 debuted two services designed to make multi-currency shopping and payments easier for users to understand and execute.

GoPago Inc., a San Francisco-based mobile payment provider last week hired Steve Elefant as its chief strategy officer. Elefant, a senior strategic consultant at Google Inc. for the past year, served as Heartland Payment Systems’ chief information officer until 2011.

The credit card company has released an app to help families rein in prom spending, which is expected to rise 41% this year compared with 2011.

NICE Systems is offering a customer engagement analytics platform. The product combines interaction and transaction analytics and lets companies look at big data generated by cross-channel customer engagement, NICE said Monday.

Two federal regulators — the FDIC and the OCC — issued guidance on deposit-advance products that establish strict underwriting standards for payday loans offered by banks and any related third-party vendor.

Mortgage servicers have halted the foreclosure process for hundreds of thousands of empty homes across the country. That has left many properties deteriorating and the original owners liable for taxes and upkeep.

Park Sterling in Charlotte, N.C., said it is on the hunt for bank acquisitions as it reported a record quarterly profit.

Improved asset quality and lower expenses lifted Columbia Banking System (COLB) in the first quarter.

Actiance, a maker of software that helps financial firms manage their use of social media, has rolled out a series of additions to its Socialite platform.

Chase's mobile banking functionality earned first place in a new report from Forrester that evaluated 15 large retail banks around the globe.

During a lengthy interview, Jim Rohr, until recently the chief executive of PNC Financial Group, talked about cybersecurity, "too big to fail" and his bank's culture.

The Consumer Financial Protection Bureau has issued a bundle of rules designed to protect consumers involved in everything from auto loans and money transfers to mortgages. Some of those protections will result in higher costs for the very people they're designed to protect. Behind the trend: financial institutions that are passing along the cost of complying with new regulatory burdens or are pulling out of certain markets altogether.

BBCN Bancorp in Los Angeles has hired a former chief executive of Hanmi Financial and Wilshire Bancorp to lead its bank.

A panel this week at the CEB TowerGroup conference in Boston focused on the future of authentication.

As NYC's police commissioner, Bill Bratton pioneered a process that married sophisticated data analysis with better communication across an organization.

More than a decade ago, regulators nearly suffocated PayPal. Now it looks like they're trying to squelch another disruptive, innovative payments system.