Banking

Former FDIC Chairman Sheila Bair finally offers an opinion on whether to extend TAG, worrying that it's abrupt end would only help too big to fail banks and the money market mutual fund industry.

Bankers who are poised to report third-quarter earnings in coming weeks will likely face tough questions about how they will grow in an environment where net interest margins are sinking to unprecedented lows.

Fundtech announced Tuesday a mobile remote deposit capture app that banks can make their own.

More than 600 credit unions have taken advantage of the regulatory change, but new data suggests that banks' fears of increased competition for business loans may be overblown.

Banks who received funding through the Small Business Lending Fund have increased small business lending by $6.7 billion, or 27.4%, over baseline levels, the Treasury Department said Tuesday.

Wells Fargo & Co. (WFC) was sued by the U.S. government over claims the bank committed fraud by making reckless mortgage loans, according to a complaint filed in Manhattan federal court.

FHFA is admirably trying to design a platform that will work under any future scenario for the mortgage market. But history shows large-scale projects can fall victim to sheer complexity.

The Redwood Shores, Calif., software company has introduced systems for managing governance and compliance that work together with Oracle's existing platform to enable financial firms to manage risk company-wide.

First Citizens Bank in Raleigh, N.C., is adding a service for clients in the healthcare industry.

The nation's shadow inventory, which refers to homes that are delinquent, in foreclosure or held by lenders but not currently for sale, fell to 2.3 million units in July, the most recent month for which data is available, CoreLogic, a data firm, said Tuesday.

Levels climbed 30% from the prior month, though they remain well below precrisis norms. Meanwhile, the SBA reported near-record volume in the fiscal year that ended Sept. 30.

Swipe fees jumped at an annual rate of 40% in the second quarter among a group of institutions subject to the new debit card price caps. Interactive data on interchange revenue at 900 companies.

American Bank & Trust of Wessington Springs, S.D., has agreed to buy Mansfield State Bank.

MasterCard updated its Smart Data offering to help business owners save money by improving their visibility and access to analytics.

American Founders Bancorp in Lexington, Ky., announced Monday that it plans to close one of its Lexington branches by the end of October, leaving it with three branches in its hometown.

Most customers want to spend less time on their finances, not more. They will flock where they are rewarded for transacting conveniently, rather than for counting their pennies through PFM.

Accenture, the global technology services and consulting company, will maintain all of the software and systems that support operations for the Chile division of BBVA, the companies said Monday.

Fitch Ratings warned of a possible downgrade of Ocwen Financial after the Atlanta company agreed to buy Homeward Residential Holdings from WL Ross & Co.

Merchants working with My Clear Reports can now sign up for Automated Clearing House products and services the vendor integrated from Checkgateway.