Banking

WICHITA, Kan. – NCUA filed suit this afternoon against UBS Securities claiming securities fraud in the sale of $1.1 billion in mortgage-backed securities to U.S. Central FCU and WesCorp FCU.

Fifth Third Bank in Cincinnati is offering a new identity theft protection product that can monitor a customer's credit report.

3Rivers Federal Credit Union in Fort Wayne, Ind. will use a web-based end-to-end loan origination system by LendingQB to help grow its mortgage lending business.

The American Bankers Association released its official slate of candidates who are set to take office at the group's annual convention next month.

A return to looser Fannie and Freddie underwriting guidelines for homeowners refinancing outside of post-crisis programs will probably create lower returns on mortgage-backed securities than most investors expect.

A number of cities, faced with limited access to the bond market, are turning to banks for tax anticipation notes as an alternative funding source.

The Fed unveiled on Thursday a new publication and website aimed at community bankers, including a question and answer session with Chairman Ben Bernanke on the challenges facing smaller institutions.

The Treasury Department will auction its stakes in five more banks — including shares it owns in an Illinois bank that it previously failed to sell — as it continues to wind down the Troubled Asset Relief Program.

Banks like BBVA Compass, USAA and ING are turning to a flurry of new social recruiting services to help them lure the best and brightest.

The Payment Card Industry Security Standards Council plans to recruit more soldiers in its ongoing war against fraudsters and cybercrooks. A new program allows any qualified individual to become a certified PCI Professional.

More than half of U.S. adults say they will avoid installing apps that share private data, while nearly a third will balk if too much information is requested.

Some courts will deem financial institutions liable simply for knowing about the red flags, while others require proof the bank knew about their customers' schemes. This subjective standard is often unfair and difficult to manage.

Visa cardholders will be able to receive immediate fashion offers via text message under a mobile-offers test Visa is conducting with Neiman Marcus.

Dozens of institutions have banded together to voice concerns they say are being overlooked by lawmakers and regulators.

Memorial City Bank is canvassing Houston for acquisition targets, capital and commercial loans.

A class-action suit against Goldman Sachs Group Inc. over mortgage-backed securities was revived by a federal appeals court in New York.

The sudden jump in proprietary modifications reported by Hope Now may reflect the impact of the state Attorneys General settlement.

The anonymous blackmailers may be trying to manipulate the market price of bitcoins, even if their claim to possesses Mitt Romney's tax returns is hoax.

Robin Robeson, the new chief operating officer of Guaranty Federal in Springfield, Mo., has returned to banking with a new understanding of software and other matters after working at Duck Creek Technologies.

VeriFone's stock price tumbled after the maker of payment terminals reported third-quarter sales that fell short of analysts' estimates, citing unfavorable currency swings, competition in Europe and a fire in Brazil.