Checking

Bank undercounted fake accounts and says it also opened more than 500,000 bill-pay accounts; CFPB director provides “no further insights” on his future.

Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

Landmark Bancorp in Manhattan, Kan., could lose more than $5 million — more than it earned in the first half of the year — if a recently discovered overdraft situation cannot be resolved.

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more.

The CFPB released four sample disclosure forms for opting in to overdraft programs that it said would make it easier for consumers to evaluate the costs and risks of such coverage.

The CFPB released four sample disclosure forms for opting in to overdraft programs that it said would make it easier for consumers to evaluate the costs and risks of such coverage.

Clinical research sites have concluded that the payments to trial participants are so labor-intensive that the process can become a detriment to their medical studies.

The U.S. trucking industry has benefited from key improvements in fuel-payments technology, with streamlined mobile apps from the likes of WEX and Comdata steadily replacing clunky, older paper-and-plastic fleet card programs for buying fuel, services and lodging on the road.

Check imaging reduces the need to handle paper, reduces clearing time and paves the way for mobile deposit and remote capture. However, this new functionality also means financial institutions take on greater risk from electronic acceptance, images in the cloud, and significantly reduced float times.

Why a simple conversation about ordering checks should have led to a loan...but didn't.

Business still use lots of checks for payments. That may have worked in the past, but it likely won't work in an increasingly digital future.

Rent is one of the few payment types where automation has made very little headway, still relying heavily on mailed checks that the landlord deposits in person at a bank. One strategy to change that is to borrow a concept from the gig economy, in which the payment rides along with other services.

Just as Intuit has to find a way to meld consumer and business technology for accounting in the 1990s, financial institutions have the same challenge, and opportunity, today with small business payments technology.

Technology and payment companies are both trying to get businesses to automate supply chain payments, but for years their efforts have stalled.

Banks have maintained consumers' trust but must do better explaining to them what they signed up for, according to a J.D. Power survey.

The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.

Longtime TCF Chairman and CEO Bill Cooper, who died Tuesday at the age of 73, is being remembered as an innovator who never forgot where he came from.

CFO John Shrewsberry projects that legal costs and other expenses related to the scandal will swell to between $50 million and $60 million and remain at that level for the next several quarters.

Traditional checking hasn't faded nearly as fast as original predictions at the dawn of online banking. Checks will remain a major part of payments, though there are some signs of an eventual decline.