Banking

A new report from The Pew Charitable Trusts reveals that people choose payday loans to avoid outcomes such as long-term debt, borrowing from family or friends, overdraft fees and cutting back on expenses.

Square's sales pitch has largely been based on the ease of plucking its mobile card reader of a retail store's shelf and suddenly being able to accept swiped card payments. But for some merchants, it hasn't been so easy.

Will the Financial Stability Oversight Council be successful at spotting threats before they cause a financial crisis or will it instead create "regulatory hazard" in the form of a false sense of security?

Monarch Financial (MNRK) in Chesapeake, Va., is getting rid of preferred stock it issued in 2009.

The purchase of NetSpend, which came at a hefty price for TSYS, signals that the prepaid card industry has come into its own.

Short sales continue to dominate relief efforts under the national mortgage settlement, and Californians continue to receive the bulk of the benefits.

A former leader of a Mormon congregation in Connecticut has pleaded guilty to charges he laundered hundreds of thousands of dollars through a bank that received funds from the Troubled Asset Relief Program.

International Business Machines Corp., the world's biggest computer-services provider, will double its investment in mobile technology this year, not including acquisitions it could make in the industry.

A study of consumer preferences and bank deployments finds mobile imaging — used to deposit checks, to pay bills, and to use credit cards — is highly popular on both fronts.

By offering a card swiping device combined with an iPad, cash drawer and printer, the payments startup has a more complete and appealing offering for small merchants.

Broadway Financial in Los Angeles has unloaded a package of loans in an effort to boost its asset quality.

VeriFone Systems tumbled as much as 35% in late trading yesterday after the maker of credit-card terminals forecast second-quarter profit that missed analysts' estimates.

Seeing an opportunity to mitigate the growing problem of student loan debt, student finance companies such as SimpleTuition and Sallie Mae are expanding debt management offers, including the use of card payment rewards.

ATMs can serve as more than cash dispensers for gift cards — they can dispense the cards as well, Better ATM Services Inc. says.

VeriFone Systems Inc. shares tumbled as much as 35 percent after the maker of credit-card terminals forecast second-quarter profit that missed analysts’ estimates, amid weak economic conditions in Europe.

VICTORVILLE, Calif. – Alaska USA FCU has relocated its branch in Big Bear Lake, Calif., to inside a Vons supermarket, across from the old branch.

Capital One (COF) is expanding its board of directors with the addition of two banking industry veterans, including a former top official of the Consumer Financial Protection Bureau.

Recovering home prices have helped shrink underwater home equity loans, but such uncollateralized assets are still large when measured against Tier 1 common equity at the Big Four banks.

Financial Institutions (FISI) has ended its months-long search for a new chief executive with the promotion of an insider.

The founder and chief executive of Bankers' Bank Northeast in Glastonbury, Conn., is retiring.