Banking

The multidistrict litigation process lumped together disparate overdraft cases in a "one size fits all" approach. As a result, it did not achieve the salutary goals the judicial panel set out to accomplish and must be judged an expensive failure.

HOUSTON – Cardtronics, the key EFT switch for credit unions, said this morning it has acquired Minneapolis-based ATM Network Inc. and its contracts with 6,200 merchant-owned ATMs.

Starbucks announced today that it is investing $25 million in Square and will begin using Square's mobile payment technology in its stores.

Starbucks announced today that it is investing $25 million in Square and will begin using Square's mobile payment technology in its stores.

Bank of America Merchant Services is launching a Web portal to allow its merchant clients to offer daily deals through search engines, social media sites and other online forums.

Bank of America's law firm defending the company against MBIA in a dispute over defective mortgages said that a court ruling in a separate case means lenders should reevaluate their reserves for bad loans.

Former Bank of America (BAC) executive Marc Gordon has been appointed executive vice president and chief information officer at American Express (AXP), the credit card company announced Tuesday.

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Former Bank of America executive Marc Gordon has been appointed executive vice president and chief information officer at American Express.

Prime Pacific Financial Services in Lynwood, Wash., will raise $5 million through a private placement of common stock as it works to meet capital requirements from a regulatory order.

Stabilizing operational costs and the potential for steady profits at Freddie Mac could further lessen the urgency of structural reforms.

Consumer borrowing in the U.S. rose less than forecast in June, restrained by the second decline in credit-card debt in the last three months.

U.S. gasoline demand fell 0.9 percent last week as prices at the pump rose to a seven-week high, according to data from MasterCard.

Bureau says banks with fewer than 100 international money transfers a year can avoid new fee disclosure requirements, but some industry officials say the threshold is still too low.

Creative Payment Solutions, a unit of BB&T (BBT), has launched a new remote deposit capture (RDC) risk self-assessment tool that financial institutions can provide to customers.

Walt Doyle, general manager of the PayPal Media Network, explains how PayPal is helping drive consumer traffic to merchants, using technology it acquired when it bought Where Inc.

The Federal Reserve Board has issued an enforcement order against Gold Canyon Bank that gives the Gold Canyon, Ariz., company 90 days to become adequately capitalized or to sell itself.

After two financial institutions merge on paper, the hard work starts in the IT trenches. Mark Duthu, executive vice president for Hancock Holding's trust and asset management group, discusses the complex integration of Whitney Bank.

Consumer use of prepaid cards is incredibly varied, relatively short-lived and full of mystery, finds a report released Tuesday by the Philadelphia Fed.

Citigroup is doing away with its cobranded ExxonMobil MasterCard and on Aug. 31 will introduce a new private-label gas card whose name, the ExxonMobil Smart Card, could be a bit misleading to payments-industry insiders in that it is not an EMV chip-card.