Banking

Newer prepaid cards from JPMorgan Chase (JPM) and American Express (AXP) feature more transparent pricing than many of their older peers. But the recent arrivals have yet to make a major impact on the overall prepaid market's pricing structure, a new survey suggests.

American Express has promoted Edward P. Gilligan to the role of president, the company announced April 15.

Record mortgage revenue and more lending helped M&T Bank (MTB) raise profits 33% in the first quarter.

American Express has promoted Edward P. Gilligan to the role of president, the company announced April 15.

Wells Fargo has rolled out a website to help customers, and eventually non-customers, meet their retirement savings goals.

Citigroup (C) said first-quarter profit rose 30 percent as revenue from fixed-income trading and investment banking exceeded analysts' estimates.

Despite the abundance of portable card readers, the sales pitch is often the same: it's for babysitters, gardeners, flea market sellers and other small merchants. Payleven says the market can be much bigger.

LevelUp's partnership with Chartwells Higher Education Dining Services could expand the mobile payment system's presence in the Midwest, a region that has received less attention from startups than San Francisco and New York.

Banks competing for new loans can be irrational and "a little scary" in terms of pricing, says Andy Harmening, a senior executive vice president and regional banking group head at Bank of the West. He spoke to American Banker at the annual Best Practices in Retail Banking Symposium.

FORT WAYNE, Ind. – 3Rivers FCU on Friday said it will be closing its Van Wert, Ohio branch on June 15 because of declining membership, fewer branch transactions, and the growing trend by members to use online banking, mobile banking and ATMs.

Sen. Barbara Boxer asked officials Friday to look into evidence that the big banks are violating the $26 billion national mortgage settlement.

BNC Bancorp (BNCN) in High Point, N.C., is remaking its executive staff with a half-dozen new appointments.

FirstMerit (FMER) in Akron, Ohio, said Friday that it has completed its purchase of Citizens Republic Bancorp in Flint, Mich.

Evertec Inc., a significant acquirer processor and card issuer in Latin America and the Caribbean region for 25 years, is casting part of its business as that market's Square Inc. and looking to supercharge its payments business after its April 12 initial public offering.

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When the University of Michigan's basketball team advanced to the Final Four of the NCAA tournament, Bank of Ann Arbor showed its support with billboards and social-media messages.

Special FDIC protection for losses suffered by failed-bank buyers still exists, but a better real estate market and bidders' increased confidence in their asset management skills are making it rarer.

Shareholders for M&T and Hudson City will meet next week to vote on the banks' merger, though a Fed review of M&T's anti-money-laundering compliance could throw a wrench in the works.

The 25th Card Forum & Expo brought hundreds of payments professionals together in Boca Raton, Fla. to share strategies and ideas. Here's a recap of some of the most talked about subjects from the event.

Bank of America Corp. must face claims by homeowners that it took kickbacks from private insurers, a judge ruled.