Banking

WICHITA, Kan. – NCUA opened a new battle with Wall Street this afternoon by filing a new suit over the sale of faulty mortgage-backed securities to the failed corporates—the third one naming JP Morgan Chase as the defendant and ninth suit against a Wall Street entity.

The country's largest undercapitalized bank, U.S. Century Bank of Doral, Fla., raised $30 million in December through the sale of three loans, according to a report in the South Florida Business Journal.

As loan participations start to climb, lenders would be well served to learn how a poorly structured agreement on a mall property caused headaches for more than a dozen banks.

The Federal Housing Administration is making it easier for small banks, thrifts and credit unions to participate in its single-family loan program again.

Consumer use of prepaid gift cards grew 10% in 2012, up to $110 billion in card loads, but an increase in fraudulent use of those cards and a growing need to protect consumers could follow, a new report warns.

Northeast Community Bancorp (NECB) in White Plains, N.Y., has promoted Jose Collazo to become its president.

The lenders allegedly forced homeowners to purchase flood insurance in excess of legal limits and received commissions from the sale of the policies.

GFA Federal Credit Union in Gardener, Mass., has completed its acquisition of Monadnock Community Bank.

A partnership with BluePoint Finance is designed to provide funding to small businesses and municipalities looking to cut energy costs.

It's a truism among financial institutions that not all revenue is created equal: some revenue costs a lot more to produce. Yet among many organizations, the exact costs related to specific revenue remain a mystery.

The President's nominee for the No. 3 job at the Justice Department would face tough questions from congressional Republicans over an issue critical to banks.

PNC Bank's defensive mechanisms cause it a new round of online banking access issues.

Bremer Bank will use Mobiliti product for mobile banking, payments and alerts.

It's going to be a big year for mobile payments. Now that several mobile wallets are in consumers' hands, the companies behind them are refining their products. What do Apple, Isis, Google, PayPal and others have in mind for the near future?

451 Group, a New York-based technology research and analyst firm, has purchased Yankee Group in an effort to expand its research and analysis of mobile technology and markets.

Washington's budget deal contained mixed news for banks; HSBC sought to downsize it branches; and rivals pushed ahead with efforts to replace bricks and mortar with phones and cameras.

The Treasury Department has threatened to punish JPMorgan for failing to turn over documents to regulators investigating the bank's ties to Bernard Madoff's Ponzi scheme.

Visitors of the Vatican Museum in Vatican City will need cash to buy tickets and souvenirs in the aftermath of Italy’s central bank ordering all payment terminals deactivated, AFP reported Jan. 3.

Google's initial launch of its mobile wallet at a special event in New York last year was a flashy affair meant to showcase every feature and every partnership. Its approach this year is much more low-key, as is that of its rival Apple.

In a Q&A with PaymentsSource, CEO Philip Beck explains how technology can help manage the complexity of international payments and the value proposition it brings to merchant acquirers.