Banking

Wells Fargo will offer almost $60 million in cash rebates to more than 3,900 minority borrowers who were put into nonprime loans when they were eligible for prime ones.

U.S. Bank Wealth Management said Wednesday it has hired Terry Sandven as its chief equity strategist, a the newly created post.

Banks and credit unions averaged a mere 2,000 followers and tweeted an average of four times a day. More than one in five (21%) were characterized as "Twitter quitters" for abandoning their Twitter accounts.

Fulton Financial has agreed to sell a payments business to a Canadian payments processor and foreign exchange services provider.

The Treasury Department said that 218 banks remain in the Trouble Asset Relief Program's Capital Purchase Program, and that it expects to sell its stakes in roughly 144 banks in 2013.

2012 brought plenty of news that bankers -- and sometimes their regulators — would be happy to forget. Here's a rundown of a year in tarnished reputations and fines.

Wells Fargo is seeing unusual volumes of traffic, but the "vast majority" of its customers are not affected, the bank says.

Someone has paid tens of thousands of dollars for a piece of financial history that has borne billions of swipes and trillions in transactions.

Massive regulation provides a deep moat protecting large financial institutions against competition from community banks and innovators.

UBS AG must pay about $1.5 billio) to U.S., U.K. and Swiss regulators for trying to rig global interest rates, triple the penalties levied against Barclays Plc.

Many payments startups face the difficult task of getting consumers to switch their lifelong habits. Waspit says college students are the best audience to target because they are tech-savvy and willing to experiment.

A year ago we asked BankThink's regular contributors to make bold predictions about 2012. Here's a look back at their forecasts and the actual outcomes.

Royal Bancshares of Pennsylvania (RBPAA) in Narberth, Pa., has hired a former executive at PNC Financial Services Group (PNC) to run its bank.

Bankers are applauding the opening salvo of a Federal Deposit Insurance Corp. project to focus on community bank troubles, but are already looking ahead to the next phases.

Libertyville Savings Bank and Farmers State Bank both plan to use Jack Henry's Core Director software in an outsourcing arrangement.

The company landed $85 million to fuel organic growth at a time when most banks are attracting large investments for acquisitions.

Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has given Michael Daly, its president and chief executive, the added title of chairman.

White House officials have approached American Express Co. (AXP) Chief Executive Officer Kenneth Chenault about joining President Barack Obama's second-term administration, possibly as Treasury secretary.

Until recently, the card resided in the wallet of Jerome Svigals, one of the engineers who invented it when he worked at IBM in the 1960s.

The economy may be improving, but banks appear unlikely to regain the creditworthiness they enjoyed before the financial crisis any time soon.