Banking

Biometric payment cards, contactless smart-rings and a virtual marketplace created by Meta are among the latest developments in payments technology.

The ruling means that a lower court's pro-consumer decision cannot be used as a precedent in other litigation. Consumer advocates had hoped the case would make it more difficult for debt buyers in North Carolina to file a large volume of lawsuits, which often lead to default judgments against borrowers.

Spencer Savings in New Jersey is taking investor Larry Seidman to court, alleging he's conspiring with other customers to convert the bank to stock ownership. Seidman says it's a farce: "I'm in a conspiracy with people I don't know."

A new debit card for military veterans, Google expands a billing test and more in banking news this week.

Some of the biggest lenders to U.S. offices are weighing sales of loans on the properties as regulators heighten scrutiny on commercial real estate debt portfolios. 

Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.

A federal judge in Texas struck down the Biden administration's plan, calling it "one of the largest exercises of legislative power without congressional authority in the history of the United States."

A ballot initiative that places additional restrictions on debt collectors and decreases the interest rates that can be charged on medical debt passed Tuesday by an overwhelming margin. Consumer advocates say it will ease the burden on households dealing with hardship, but industry groups contend that it will make credit more expensive.

Savanna-Thomson State Bank in Illinois has agreed to buy Fidelity Bank in Iowa and says it expects to complete the acquisition early next year.

Wall Street banks that lent $13 billion to help fund Elon Musk's buyout of Twitter have been quietly sounding out hedge funds and other asset managers for their interest in a chunk of the buyout debt at deeply discounted prices.

The National Credit Union Administration has granted a federal charter and share insurance coverage to New York Episcopal Federal Credit Union in the Bronx, New York. It is the third federal charter granted this year.

The San Francisco company is now estimating a net interest margin of 2.45% for the fourth quarter, down from 2.71% three months earlier. The profitability metric has suffered as customers ask for higher rates on their deposits.

Former Goldman Sachs Group banker Asante Berko was arrested on charges that he orchestrated bribes to Ghanaian officials while employed at the investment bank.

Anderson, who has held leadership positions at Equifax, Wells Fargo and American Express, will succeed longtime CEO Benson Porter on Dec. 5.

There are more cost-effective ways for even small institutions to analyze data and connect with underserved and niche communities, according to a panel of experts during an NCUA event on financial inclusion.

Town & Country Credit Union named Brad Houle as its new president and CEO. Houle was most recently chief executive of CAHP Credit Union in Sacramento.

As the CEO of Navy Federal Credit Union, Mary McDuffie can never lose touch with the needs of a young membership stationed across the globe.

The $186 million deal, announced in November 2021, was originally expected to close in the first half of this year. "The environment for M&A is just more challenging," an OceanFirst executive says.

During the third quarter, the industry braced for a potential recession by making it harder for borrowers to access credit, according to a new Federal Reserve survey. Bankers indicated that they are ready to take stronger action in a downturn that many of them now see as likely.

The prepaid wireless provider needs ways to reduce churn, and it has created a neobank to do that. However, it comes with a boatload of fees.