Banking

Bank of America says it and other banks, which have a full view of each customer's financial needs, are well-positioned to succeed as mobile payments providers.

MoonClerk is a new company that's targeting a distinct segment of the payments technology market—the startups and small businesses that want to build a Web payment acceptance engine, but don't have the right tech expertise in-house.

Century (CNBKA), a $3.2 billion-asset company in Medford, Mass., said in a regulatory filing Thursday that James McDonough had resigned as a director to become CEO of Randolph Savings in Stoughton, Mass.

After months of concern about MasterCard's April l9 liability shift for ATM owners accepting Maestro cards, the National ATM Council says it has established a workable solution with the card brand's offer of fraud screening. But another ATM trade group isn't celebrating just yet.

The Securities and Exchange Commission is pressing large banks like Citi, B of A and JPMorgan to provide investors with more accurate information about structured notes, complex securities that are often sold to wealthy individuals.

The Federal Housing Finance Agency on Thursday extended the government's Home Affordable Refinance Program for an additional two years through 2015. The program was set to expire at the end of this year.

As part of a regular update of its finances, the Federal Deposit Insurance Corp. said it will return amounts from the 2009 prepayment that were unnecessary.

Lawmakers grilled the OCC and Fed on Thursday over the failed independent foreclosure review, including their extensive use of independent consultants to carry out much of the work.

A federal judge ordered retail trade groups Thursday to make changes to websites that seek to persuade merchants to oppose a proposed settlement over credit card swipe fees.

Banks used to sell payment protection and identity theft protection products as a way for customers to protect themselves from criminals and unexpected mishaps. Now Barclays is telling U.S. card customers they're just "products you don't need."

Websites critical of a settlement that Visa Inc. and MasterCard Inc. reached with retailers over so-called swipe fees are misleading and must be corrected, a federal judge said.

Community banks have upped their lending to first-time home buyers and more and more are making mortgage loans on their own without the help of wholesalers, according to the American Bankers Association.

The Bellevue, Wash., bank has done fine on its own, but decided to buy a smaller version of itself in hopes of boosting market value. And its CEO says he's not done dealing.

Polaris Financial Technology has opened a financial-technology design center in Chennai, India.

A fight over board seats at South Street Financial pits the company's management against the president and CEO of a bank in Pennsylvania.

Regions Bank was hit with a cyberattack Thursday afternoon that jammed online and mobile banking and left some customers unable to access their accounts.

Retailers unhappy about a proposed $7.5 billion swipe-fee settlement in a case against Visa Inc. and MasterCard Inc. received a momentum boost this week when the Retail Industry Leaders Association chose to opt out of the settlement.

LENEXA, Kan. – NCUA closed on the sale of the former headquarters of U.S. Central FCU, months after winding down the operations of the one-time $52 billion central bank for credit unions.

In an eventful earnings announcement, the company also reported a big jump in profits and disclosed more details about a fraud scheme perpetrated by a warehouse-lending partner.

The riskiest loans get priced out of Fannie and Freddie securities and end up guaranteed by the FHA. We are merely shifting risk from one set of federally insured entities to another.