An improving economy and better execution of loan modifications have meant fewer redefaults on restructured mortgages, the Office of the Comptroller of the Currency said Thursday.

Citigroup has issued a fintech challenge that asks developers to propose banking technologies that interact with the Internet of things and consumers' wearable devices.

The private equity firm of Texas billionaire Gerald J. Ford, is planning a tender offer for up to 65% of Mechanics Bank in Walnut Creek, Calif. If completed, the deal would be the first deployment of the $755 million that Ford's fund raised last year.

The payments industry has turned its attention inward, focusing on securing its own technology from fraudsters without driving off their customers.

Fitch Ratings has affirmed its outlook for six community banks based on their stable and improving performance.

How banks are using online and classroom courses to teach young commercial lenders to stay on top of regulatory and market changes.

Highlands Bancorp in Vernon, N.J., has lined up its next chief executive.

WASHINGTON — The Federal Home Loan banks of Seattle and Des Moines announced Thursday that their boards have unanimously approved a definitive agreement to merge.

Top demos from the second day of Finovate address security problems, the need to create a personal interaction even with mobile-only customers, and high brokerage fees.

Hospitals will save $5.7 billion in uncompensated care costs this year because of the Affordable Care Act, with those found in states that have expanded Medicaid projected to save the bulk of the total, according to a report from the Department of Health and Human Services.

Federal student loan defaults fell for the first time in several years but stayed far above levels reported before the recession, and there are questions about how the rates are calculated.

Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million.

Regulators fined U.S. Bank $57 million in penalties and restitution on Thursday to settle allegations that the $367 billion-asset bank unfairly marketed and charged add-on products to consumers.

Ripple Labs Inc., a venture capital-backed challenger to Western Union and Bitcoin, is for the first time gaining access to the U.S. banking system, and security hawks are raising eyebrows.

Jimmy John's, a sandwich-shop chain based in Champaign, Illinois, said a hacker infiltrated payment systems at about 216 of its locations and stole credit- and debit-card information.

Devising a risk mitigation plan — and the training and oversight necessary to implement it — requires lenders and servicers to conduct a scientific investigation into the policies, procedures and controls they already have in place.

The coming surge of servicemembers winding down their time in the military is expected to keep Veterans Affairs-backed mortgage lending an attractive opportunity for soldiers reestablishing their civilian lives.

First Citizens BancShares in Raleigh, N.C., will add three directors after it completes its acquisition of First Citizens Bancorp. in Columbia, S.C.

Citizens Financial Group, which held an initial public offering Wednesday, will hire 350 mortgage officers and soon announce a new treasury services head, the bank's chief executive told American Banker.

Nearly 40% of community banks have no plans to introduce new products and services in the next three years, according to a recent survey from the Federal Reserve and Conference of Bank Supervisors. Technology also remains a daunting challenge, along with regulatory changes and other business challenges.