Economy

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.

Visa has continued to establish a more complete B2B offering, working through its Visa B2B Connect blockchain payments service to help companies establish application interfaces and platforms to handle business transactions more efficiently.

The House Financial Services Committee has scheduled an FHFA oversight hearing for September in the wake of waste, fraud and abuse allegations.

The central bank’s dividend waiver rule has severely limited the formation of mutual holding companies.

JPMorgan Chase, SunTrust and PNC are pressuring outside counsel to get more women and minority lawyers to represent them in court even at the risk of alienating the big, traditional law firms that they have done business with for years.

The biggest impact may be to focus the administration’s efforts on selecting a nominee to succeed Director Mel Watt, whose term ends in January.

The company has tested Harbortouch Bar & Restaurant software at 50 locations and has informed independent sales organizations the service is ready to deploy for restaurant clients.

Bank organizers are picking one another's brains about hiring decisions, applications and raising capital as part of the monthslong effort to secure charters.

Year to date through Mar. 31, 2018. Dollars in thousands.

Full-time equivalent, as of Mar. 31, 2018. Dollars in thousands.

Year to date through Mar. 31, 2018. Dollars in thousands.

CommuterClub provides loans so consumers can purchase annual season passes online, instead of monthly or weekly passes and spread the cost over monthly installments.

The partnership targets home improvement and some health care merchants that accept American Express. These merchants will be able to drive more sales by providing financing options for large purchases.

Consumers are back to their old spending and saving habits; Trump administration is encouraging financial innovation; how the financial crisis shaped today's politics; and more from this week's most-read stories.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

Tory Nixon, who became Umpqua's chief banking officer this spring, is trying to drive more customers to use mobile banking (only 15% do so now industrywide) without alienating them in the process.

Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.

Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.

Echoing House members, five Republican senators called on the Federal Reserve Board to rethink its surcharge in order to eliminate “excessive” capital requirements.