Banking

The mega-retailers' Merchant Customer Exchange venture argues that the mobile-payment system it is developing will appeal to retailers in a way no other mobile wallet can. That’s leaving some companies divided on which mobile approach is best—MCX's focus on gaining retailer acceptance or the emphasis on consumer adoption championed by Isis and others.

Bank of America (BAC) has promoted a veteran executive to lead its commercial banking business as part of its latest shuffle of senior managers.

Fulton Financial (FULT) in Lancaster, Pa., reported a bump up in profit in the fourth quarter despite declines in interest income.

Alvin Kang, CEO of BBCN, is said to have resigned after a disagreement with his board. His departure could clear the way for a deal for Hanmi Financial and raises the prospect of industrywide succession fights as banks consolidate.

Credit card delinquencies fell across the board at the Big Six issuers in December, reversing the deterioration during the fall.

Sandra Thompson, The Federal Deposit Insurance Corp.'s supervision chief for the last seven years, is stepping down.

Community State Bank, of St. Charles, Mich., has agreed to open a loan office in Saginaw, Mich., to settle a Justice Department lawsuit alleging it discriminated against African-Americans.

The holding company for the $226 million-asset GulfShore Bank has so far pulled in $1.6 million from local investors in an offering that began on Dec. 31.

Dodd-Frank required mortgages with higher rates to face greater appraisal demands, but regulators have expanded the loans granted exemptions in a new final rule.

Regulatory changes to the 1099-B, 1099-K and 1042-S forms, intended to help reduce the $450 billion tax gap, will make it much more difficult to avoid penalties and tricky customer service issues.

The Consumer Bankers Association is warning banks that they will face challenges booking loans while also competing with nonbanks in areas such as prepaid cards.

The new app gives users access to a Green Dot savings or checking account on their iPhone or Android, with fees optional.

The full story on JPMorgan Chase's London Whale fiasco may soon be coming to light.

Testers of Simple's checking account can now use the service from their Android phone.

After spending the last few years paying down debts, consumers appear ready to increase their borrowing again, lenders say.

Smaller institutions are following the lead of bigger banks, which is presenting buying opportunities for CEOs like Bristol County Savings Bank's Pat Murray.

Educational materials and user-friendly design simplify corporate treasury complexities.

Commerce Bancshares (CBSH) in Kansas City, Mo., posted stronger quarterly results because of higher card fees and loan volume.

PayPal Inc., pushing ahead with its drive to become the payment option of choice at the point of sale, has entered an agreement with hardware maker NCR Corp.

Jumio Inc. has released an Android version of its Netswipe Mobile technology for accepting card payments with a phone's camera.