Banking

Bank of America is offering a service that makes it possible for travelers to retrieve their chip-and-PIN card's forgotten PIN without calling a customer service representative or waiting for a mailed response.

Citigroup chief executive Vikram Pandit resigned effective immediately on Tuesday, the third-largest bank said on Tuesday morning.

PNC Financial Services, the seventh-largest U.S. bank by deposits, said third-quarter profit climbed 11 percent as mortgage revenue helped drive an increase in non-interest income.

As financial institutions increasingly create specialized credit and debit cards and merchants continue to push loyalty cards, the overwhelming abundance of plastic could create a greater need for a mobile wallet than any other consumer incentive.

A report from the CFPB's ombudsman found that problems endemic to mortgage servicing are prevalent in student loan servicing as well.

Pacific Premier Bancorp (PPBI) in Costa Mesa, Calif., has agreed to pay roughly $53.7 million to acquire a niche bank to help fund future loan growth.

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Regulation and low interest rates are challenging all banks, but a panel of CEOs at the American Bankers Association's annual convention shared tips on how they believe smaller institutions can succeed.

Third-quarter earnings at Intervest Bancshares (IBCA) fell roughly 15%, to $2.2 million, from a year earlier as the New York company shrunk its balance sheet.

Bankers question the fairness of some compliance penalties charged by the Small Business Lending Fund, which added 3% to its returns through June 30.

Citi, Wells and JPMorgan Chase have all taken substantial chargeoffs in response to new OCC guidance on treatment of home-equity loans, and several other large and regional banks are likely to do the same.

The new version of Misys' software can help banks deal with new requirements for legal entity identifiers.

Mortgage borrowers say they overpaid up to $300 a year due to ill-timed Libor rate reporting. Annie Belle Adams, a homeowner in Mobile, Ala. and four other homeowners in the state have filed a lawsuit against Bank of America (BAC), Citigroup (TK), JPMorgan Chase (JPM), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC Holdings (HBC), Lloyds (LYG), Royal Bank of Canada (RY), Royal Bank of Scotland (RBS), UBS (UBS) and Rabobank that charges the companies with conspiring to manipulate the price of the London Interbank Offered Rate in violation of antitrust laws. None of the banks have commented on the case.

Unity Trust Bank and Social Misfits Media have published a guide on how charities and social enterprises can use social media more effectively.

New research from the Royal Bank of Scotland and Capgemini details how the "rush to comply" has become a rush to digitize.

Without one, community banks will face increased risk of litigation they cannot afford. This could push many of them out of the mortgage market.

The gap between consumer and secondary market mortgage rates has blown out to a 12-year high, as this interactive graphic shows. Lenders have trouble explaining what will replace mortgage earnings once production fizzles, however.

Bill Pappas, CIO for global wholesale banking technology and operations at Bank of America, shares some of the challenges of building an infrastructure to support mobile banking apps for businesses in 30 countries, and how B of A is meeting them.

Stifel Nicolaus Weisel, an investment banking firm in St. Louis, has jumped to third from sixth place among bank deal advisors this year.

Paul Cronin succeeds Diane D'Erasmo as HSBC's chief of corporate banking for the Northeast and New York City.