Banking

Bank of America Merrill Lynch (BAC) has released two new software applications that address new cross-border payments regulations in the Dodd-Frank reforms.

Coastal Credit Union in Raleigh, N.C., has announced plans to convert to a core platform from Symitar, a division of the financial technology firm Jack Henry & Associates.

First BanCorp (FBP) in San Juan, Puerto Rico, has enhanced and extended an offer to convert preferred shares into common stock.

Hampton Roads Bancshares (HMPR) in Virginia Beach is reducing its branch network.

Eastern Virginia Bankshares (EVBS) in Tappahannock plans to raise $50 million through a private placement and a rights offering.

CNB Financial (CCNE) in Clearfield, Pa., has agreed to acquire FC Banc (FCBZ) in Bucyrus, Ohio, for about $40 million, or $30 a share in cash and stock.

Credit lines and expanded overdraft programs are being considered as alternatives for banks that want to curb their customers' use of payday loans.

New Community Reinvestment Act guidelines will reduce paperwork burdens, open up new areas for assistance and make clear that banks falling short will hurt their overall lending test performance.

Jefferson Bancorp in Lutherville, Md., has received regulatory approval to buy Carrollton Bancorp (CRRB) in Columbia, Md.

Jack Henry said Tuesday that Washington Trust Bank in Spokane has selected its core processing platform, SilverLake System, to automate varied functions company-wide.

In an abrupt policy announcement, the Federal Housing Finance Agency declared Tuesday plans to ban force-placed insurance commissions even before its own industry review is complete.

Wells Fargo (WFC) weathered a cyberattack on Tuesday that left some of the company's customers unable to log in to their accounts.

A unit of Fentura Financial (FETM) in Fenton, Mich., has been freed from a regulatory order from Federal Deposit Insurance Corp. and the State of Michigan Office of Financial and Insurance Regulation.

Provident New York Bancorp wants to join forces with a similarly sized bank, KBW analyst Collyn Gilbert says. But a pool crowded with rival buyers is crimping its plans.

The troubled Metropolitan Bank Group in Chicago may be getting a lifeline from a consortium of Mexican investors, Crain's Chicago Business reported.

LivePerson announced Tuesday it finished integrating its mobile chat product with San Diego County Credit Union's mobile browser.

Interest in SBA lending has picked up as the agency works to attract more lenders and borrowers by streamlining its programs.

Pacific Mercantile Bancorp (PMBC) in Costa Mesa, Calif., has named a credit-risk consultant and former Comerica (CMA) executive to its board.

The company has adopted Q2ebanking's electronic banking platform, the Austin-based financial technology firm said Tuesday.

Social Finance, a San Francisco-based company that offers student loans, announced Tuesday that it has secured a $60 million line of credit from Morgan Stanley.