Banking

Days after restating its 2011 results to show a larger loss, Broadway Financial (BYFC) in Los Angeles announced Wednesday that its first-quarter loss was lower than it first reported.

The nation's third-biggest bank has received the E Pluribus Unum Prizes' Corporate Leadership Award for its backing of Citizenship Maryland, a program that loans money to legal permanent residents who apply for U.S. citizenship.

Kabbage plans to use its new capital to forge partnerships with data companies and develop data tools for its customers.

Bank of America may be preparing to slash about 6% of its work force by the end of this year as part of an ongoing series of streamlining measures.

Oregon Pacific Bancorp in Florence has raised almost $2.4 million through a private placement of common stock to unnamed accredited and institutional investors.

Suffolk Bancorp is looking to grow after a large purge of nonperforming assets under CEO Howard Bluver.

What is good for the big banks is not necessarily good for the economy and the growth of jobs, writes the chairman of Signature Bank in New York.

It's hard for credit card issuers to expand lending when customers keep a lid on their bills the way they are these days.

In an attempt to compensate for higher foreclosure related losses, the Federal Housing Finance Agency is proposing that Fannie Mae and Freddie Mac charge higher fees on new loans in five states.

WICHITA, Kan. – A federal judge agreed yesterday to halt pending litigation over the failure of U.S. Central FCU and WesCorp FCU to allow two Wall Street banks to appeal his July ruling preserving mortgage-backed securities suits by NCUA, in an effort to resolve whether the statute of limitations can be extended to allow for a government conservator’s claims.

A jump in previously occupied homes and a rise in new construction suggest the housing sector may be headed for recovery.

Jackson Hewitt Technology Services is the latest tax preparer to end its partnership with Republic Bancorp, following the bank's decision to no longer offer refund-anticipation loans.

Andrew Kahr blames Fannie Mae and Freddie Mac's affordable housing goals for helping "inflate" the housing bubble. Former GOP appointees at HUD see it differently.

Community Bank of Central Wisconsin had to sell but couldn't find a single buyer — so it got creative and found two.

Goldman Sachs is turning to IO, a provider of modular data center technology and services, for data center help across North America, Europe and Asia.

The Payment Card Industry Security Standards Council has developed best practices for developers of mobile payment technology, with a heavy emphasis on shielding data and unauthorized access.

In a race closely watched by the banking industry, multiple polls conducted since the Democratic National Convention now find Elizabeth Warren leading Sen. Scott Brown. "Warren is looking unbeatable," one analyst says.

The Chicago-area company continues to make acquisitions in the Windy City, while other banks fret about a lack of targets. A key reason for CEO Edward Wehmer's success is his willingness to buy small banks, as opposed to swinging for the fences with one deal.

Groupon is the latest of many companies to provide merchants with a card reader that clips to smartphones. But the daily-deals company is not simply selling a me-too device — it is planting the seeds of a bigger payments strategy.

A federal charter will allow lenders to provide more credit alternatives with lower costs as well as flexible payback periods and loan amounts to underbanked consumers.