Banking

Discover Financial Services is moving its fiscal year.

Before the mobile card reader phenomenon took off, it was unlikely that a small-business owner could walk into a nearby store, pay $10 and walk out minutes later with the ability to accept card payments. Today, mobile payment devices are competing for shelf space with a growing number of major retailers.

The House Democratic Caucus formally elected Rep. Maxine Waters Tuesday as ranking member for the House Financial Services Committee.

The Stamford, Conn. financial services consultancy said it is acquiring Javelin for its work in mobile and multichannel banking, payments, security and fraud, among other expertise.

Greenwich Associates announced Monday it has agreed to acquire Javelin Strategy & Research for its work in mobile and multichannel banking, payments, security and fraud, among other expertise.

As growth in the credit card industry has stalled nationally, a group of small issuers have kept their foot on the gas.

First Horizon National (FHN) is adequately reserved to cover all buyback requests from Fannie Mae and Freddie Mac, Bryan Jordan, its president and chief executive, said Tuesday.

JPMorgan Chase's (JPM) mortgage business has remained strong this quarter, outgoing chief financial officer Doug Braunstein said Tuesday.

U.S. Bancorp will raise reserves for bad mortgages in response to a directive from Freddie Mac, CEO Richard Davis said. He also foresees a "difficult" next year in banking, and is cautious on M&A.

The Senate passed an amendment Monday that would tighten a law barring lenders from charging members of the military more than 36% interest on their loans.

Alliance Bankshares' sale to WashingtonFirst Bankshares has been approved by regulators and endorsed by proxy advisory firms, but now comes the hard part: reaching its far-flung investor base.

The FDIC's third-quarter report on the health of the industry shows lending climbed upward, but reduced loss provisions and sales of existing assets are what boosted earnings.

Wells Fargo is still evaluating potential acquisitions, but the opportunities presented by the Euro crisis may no longer be available, according to the company's CEO.

As banks dig deeper into mobile commerce, they're likely to bump into businesses like telecom and gear-making where development cycles and patent fights are fast and furious.

Small banks have spent years shrinking their residential development portfolios, but a rebound in housing starts could bring more lenders back to that market.

When industries and business environments evolve, the best and brightest people and organizations in that industry will as well.

SunTrust Banks (STI) expects its heightened volume of mortgage refinancings to continue next year, even while other banks and industry analysts are projecting a slowdown.

Bank of America Corp. Chief Executive Officer Brian T. Moynihan said the firm has plenty of capital and he's confident it will pass the next U.S. stress tests.

New app snaps customer's photo and performs instant age regression.