Banking

Sites like Groupon have captured consumers' attention and loyalty in a way that credit card issuers often dream of. A few savvy payments companies have found ways to benefit from the daily-deals fad.

Banks take big operational risks when business customers automate transactions with remote deposit capture. BB&T has joined a crowded market of vendors selling technology for evaluating compliance in this area.

Serial dealmaker Jay Sidhu is at it again, agreeing to buy the New York thrift CMS Bancorp for $20.8 million. Sidhu is paying a premium, an investor in both banks says, but Sidhu denies it.

As expiration dates near for FDIC loss-sharing agreements inked in 2008, more failed bank buyers are looking to unload loans before the coverage runs out. As a result, they face growing pressure to book new loans to replace the ones they are trying to run off.

Trying to figure out Apple Inc.'s intentions with mobile payments based on the technology giant's patent approvals is akin to assembling Ikea furniture without instructions. Some parts clearly fit, others not so much.

Mexican bank Banamex this week launched the initial phase of the first major countrywide contactless-payment rollout that includes the issuance of 100,000 PayPass contactless credit and debit MasterCards and the deployment of several thousand terminals to 1,900 merchants in Mexico City.

Consumers' inner rock stars and accountants are at the heart of the mobile finance startup's business plan, Movenbank CEO Brett King says.

Mexican bank Banamex this week launched the initial phase of the first major countrywide contactless-payment rollout that includes the issuance of 100,000 contactless credit and debit MasterCards and the deployment of several thousand terminals to 1,900 merchants in Mexico City.

As we transact, we give life to the inner "rock star" or "accountant" in us, says Brett King, chief executive of mobile finance start-up Movenbank.

Loan demand is soft and competition for borrowers is intense, creating tension between building portfolios and sustaining yields. Some banks have posted leaps in volume just to tread water in profitability.

The Lansing, Mich., company has turned to court to try and recapitalize itself. The move would leave all existing stakeholders with a 53% equity stake in the company. Capitol, meanwhile, is still searching for an investor to take the other 47%.

FNBNY Bancorp has hired John F. Stewart, a former president of Citibank New York, as CEO of First National Bank of New York. Stella Mendes will be the bank's president.

Merchant acquirers and tech companies are collaborating on mobile payments issues in a new group formed by the Electronic Transactions Association, the Washington-based trade group announced Thursday.

Customers Bancorp in Wyomissing, Pa., struck its second deal in two months with an agreement to buy CMS Bancorp in White Plains, N.Y. Customers, led by Jay Sidhu, would expand its presence in Westchester County.

'Hackathon' shows payment tech can evolve lightning-fast; Starbucks juices Square; Verifone vexed.

JPMorgan Chase will contribute about $1.2 billion to settle a price-fixing case brought by retailers over credit-card swipe fees.

Julius Baer Group Ltd. (BAER), the Swiss money manager established in 1890, is nearing an agreement to acquire Bank of America Corp. (BAC)'s Merrill Lynch wealth management businesses outside the U.S., according to two people with knowledge of the matter.

Visa, and MasterCard have until Oct. 19 to formally request approval of a more than $6 billion settlement to a lawsuit over interchange fees, according to a filing unsealed in Brooklyn, New York, federal court.

Show consumers mobile channels are useful, accessible, secure, familiar and easy to use.

PENSACOLA, Fla. -- Navy FCU closed yesterday on its $3.6 million purchase of 240 acres adjacent to its 65-acre call center, clearing the way to add 700 new jobs and invest $6.5 million into the huge operation over the next several years.