Consumer banking
Consumer banking
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The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies.
July 17 -
Regulatory constraints make it hard for banks to offer payday and other short-term loans, so why not refer those potential customers to credit unions who can? Some banks -- including Bank of America, TD and South State -- have decided this is a good strategy and helped start a credit union in South Carolina to do the job.
July 17 -
First Interstate BancSystem (FIBK) in Billings, Mont., will close eight branches after it acquires Mountain West Financial (MTWF) in Helena, Mont.
July 17 -
LNB Bancorp (LNBB) in Lorain, Ohio, has hired a new chief financial officer.
July 17 - California
East West Bancorp (EWBC) in Pasadena, Calif., reported double-digit earnings growth in the second quarter increase in its second-quarter earned a profit in the second quarter loan growth following the MetroCorp acquisition earlier this year.
July 17 -
The New York Department of Financial Services has released proposed framework for its much-anticipated BitLicense. Though the agency describes its proposal as a balanced approach that does not stifle innovation, its rules might be considered too strict for many companies.
July 17 -
Trust-preferred creditors have forced two indebted bank holding companies into involuntary bankruptcy this summer. Secured lenders may soon follow their lead and start foreclosing on bank stock collateral.
July 17 - Ohio
KeyCorp (KEY) in Cleveland reported higher quarterly earnings after a jump in investment banking and debt placement fees and lower credit costs.
July 17 -
A new report shows a total of 613,874 U.S. properties with foreclosure filings - default notices, scheduled auctions and bank repossessions - in the first half of 2014, a 19% drop from the previous six months.
July 17 -
Webster Financial (WBS) in Waterbury, Conn., reported higher quarterly earnings but missed its earnings targets as mortgage-banking fees declined more than expected.
July 17 -
KeyCorp (KEY) in Cleveland has agreed to buy Pacific Crest Securities, a technology-focused investment bank and capital markets firm.
July 17 -
New rules published by New York State regulators include better disclosures for collection communications, provisions for email, protections against time-barred collection and stronger verification procedures.
July 17 -
Nonbank mortgage lenders pose greater risks to Fannie Mae and Freddie Mac because they have limited government oversight and generally weaker finances than banks, according to a government watchdog report.
July 17 -
Under a measure passed Wednesday, the use of federal funds to punish banks for providing accounts to pot businesses would be prohibited.
July 16 -
First National Bank of Green Forest in Arkansas has chosen a new name but kept it in the family, so to speak. The $347 million-asset bank will rebrand itself as Anstaff Bank, a blend of the names of its two founding families, Anderson and Stafford.
July 16 -
Cardinal Financial (CFNL) in Tysons Corner, Va., blamed a 14% drop in profits on acquisition-related expenses.
July 16 -
Guaranty Bancorp (GBNK) in Denver has bought Cherry Hills Investment Advisors in Greenwood Village, Colo.
July 16 -
Tom Wolfe, who oversees two of Wells Fargo's fastest-growing consumer businesses in credit cards and auto lending, will leave the bank later this year.
July 16 -
Bank of the Carolinas in Mocksville, N.C., has raised $46 million through a private placement. The $428 million-asset company said that it sold about 458 million shares of newly issued common stock at 10 cents each to unnamed institutional and accredited investors.
July 16 -
Farmers Bank & Trust in Magnolia, Ark., has agreed to acquire the 1st Bank of Texarkana, a $309 million-asset bank located just over the state line in Texas.
July 16



