Banking

The embattled Lansing, Mich., company announced earlier this week that it had entered into agreements with two units of ValStone Partners, a private-equity firm in Birmingham, Mich.

Federal Reserve Board governor says vacancies are dragging down property values in high-foreclosure areas, and offers examples of solutions.

Roy Dowdy Jr., the CEO of Citizens Bank in Geneva, Ala., expects more healthy small town banks to sell as margins thin and costs rise. His bank decided to sell to Bank of the Ozarks earlier this week.

Many lenders aren't waiting around for regulators to define what a qualified mortgage is and instead are making their own rules.

New Vanity Fair profile recounts how New England Patriots quarterback Tom Brady called JPMorgan Chase CEO Jamie Dimon with inspiring words during a trying time.

Economic pressures will force more small banks to sell, and midsize banks will feast on them while regulatory limits trap big banks on the sidelines of M&A, says John Roddy, a Macquarie Group investment banker.

Michael Tierney will continue to tackle lingering mortgage problems at the Michigan company, which is also trying to expand more into commercial lending. Meanwhile, a key private-equity backer says is has no immediate interest to cash out of the company.

The credit union's new branch uses augmented reality to drive a digital cash game. Grow hopes to attract a new generation of members and drive traffic to social media sites.

Wells Fargo is offering its retail customers free access to their credit scores between now and Nov. 15.

Wells Fargo is offering its retail customers free access to their credit scores between now and Nov. 15, a nationwide promotion overlaps with Get Smart About Credit Day.

The Federal Reserve Board has terminated enforcement actions against TCSB Bancorp in Traverse City, Mich., and Northeast Securities Corporation in Minneapolis.

JPMorgan Chase has been busy recently, announcing new rewards cards for AirTran and Hyatt customers.

FIS Global is launching PayNet, a new transaction type that looks like an ACH payment, but moves cash quickly over a system that resembles a debit card network.

Bank of Henderson has agreed to buy Harrison Bancorp. The Kentucky bank did not disclose the price, though Dale Sights, its president and CEO, said that he expects to complete the acquisition next month.

Microsoft announced Thursday it has purchased PhoneFactor, a multifactor authentication solutions provider with many financial institution clients.

Storage and cloud computing company EMC has teamed up with the nonprofit National Cyber Security Alliance to offer consumers a tool for assessing their exposure to digital danger.

The Bedminster, N.J., bank holding company said Thursday that Douglas Kennedy will take over as chief executive on Oct. 9.

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First Marblehead in Boston has agreed to acquire certain assets and liabilities of Cology, a provider of student loan processing and servicing for more than 250 lenders, most of them credit unions.

The universal consumer demand for bill payment makes the service particularly well-suited to bringing people into the financial mainstream.