Banking

The FHA's mission to promote housing has contributed to its downfall in addressing its other mission: to maintain fiscal discipline of the mortgage insurance fund.

Ally Financial Inc., the lender majority-owned by the U.S., is in advanced talks to sell some international auto-finance businesses to General Motors Co. for $4 billion, two people with knowledge of the matter said.

The government mortgage giant's plan, which awaits regulatory approval, aims to cut premiums by hundreds of millions of dollars and end a stream of payments to banks.

If you have a successful model that you believe in, it doesn't matter what the establishment says.

When Total System Services Inc. closes its deal in the next month to acquire ProPay and its various payments services, the payment processor will have a new "Square-like" look and feel to ramp up its merchant acquiring business.

KEEWATIN, Minn. -- Central Hanna Employees CU has decided to convert to a community charter after it acquired a downtown branch from American Bank.

AUSTIN, Texas – Austin Telco FCU has bought a 75,000-foot office building that will house its new headquarters, the latest area credit unions with plans for larger new offices.

RYE, N.Y. -- USAlliance FCU has acquired a branch in New York’s Harlem neighborhood with the merger of El Barrio FCU, a troubled $1 million credit union.

WICHITA, Kan. – JP Morgan Chase asked a federal court here Friday to postpone a civil suit brought against it by NCUA in the failure of four corporate credit unions until a federal appeals court has decided whether the credit union regulator waited too long to file similar securities claims against RBS Securities, Wells Fargo’s Wachovia Capital Markets and other Wall Street banks.

The event, hosted by the Federalist Society, was largely designed to focus on the CFPB. But former BB&T CEO John Allison used his time to openly argue for ending, or limiting, the Fed.

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WASHINGTON — State regulators in Georgia closed the $125 million-asset Hometown Community Bank in Braselton late Friday, stretching the industry's failure toll this year to 50.

The Consumer Financial Protection Bureau's enforcement actions and remittance rule were hot topics at a panel with agency official Michael Gordon.

To offer credit as a means of promoting savings is a bit like a hospital encouraging people to get sick so they can be healed.

The Consumer Financial Protection Bureau says it will delay the effective date of new disclosures about escrow accounts and other items as the agency crafts a broader overhaul of mortgage forms.

New York's Attorney General has issued a letter demanding that Wells Fargo (WFC) resume processing mortgage modification requests for borrowers in states hit by Hurricane Sandy.

Angling to better engage branch customers, First Victoria National Bank has started to film rapping tellers and singing customers and post the videos on its YouTube channel.

It's common to accuse the payments industry of living in the past, relying on aging systems like paper checks and magnetic-stripe cards. But the future holds some very intriguing changes — and in many cases, it’s already here.

Flint Mobile Inc. announced today that its mobile card-acceptance app is available to on Apple Inc.'s app store.

The Lansing, Mich., company has a confirmation hearing on Dec. 4. A delay could prove costly to Capitol's survival; the state regulator has threatened to seize the company's bank in New Mexico on Dec. 20.