Bank channel

A district court judge delivered a blistering rebuke of the Federal Reserve Board on Wednesday, tossing out a central bank rule that caps debit card transaction fees and saying the central bank exceeded its authority.

The Midwestern community bank has plans to increase its program to seven or eight advisors over the next couple of years.

As community banks struggle with profitability, one segment offers a large opportunity for new revenue, according to George Noga, senior vice president of revenue enhancement at Fiserv: small business.

Expense control is getting extra attention at several smaller banks this earnings season, though the reasons for the scrutiny vary depending on the institution.

The Federal Deposit Insurance Corp. took seven enforcement actions and freed 13 banks from orders in June, according to a list of regulatory actions released Friday.

George Crosby, the former head of HSBC’s Brazil team, will oversee all activities covering the Latin American markets in the U.S.

The Federal Reserve Board will be expanding its yearly stress-test exercise next year to include 11 more bank holding companies, bringing the total to 29 firms.

It's probably not much of a consolation to bankers to know that the financial services industry, which has a poorer reputation than any other major sector of the U.S. economy, still seems to be held in higher esteem than Congress.

During the first quarter of 2013, banks generated $790.7 million in annuity sales, up 1.2% from $781.7 million in the same quarter last year.

Asset management fees helped push UMB Financial in Kansas City, Mo., to a higher quarterly profit.

Wealth management services generated $6.9 million in second-quarter revenue, up 20.4% year-over-year.

The Nashville community bank has expanded into new territory with the addition of three advisors who will focus on the medical industry and physicians’ practices.

The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012.

Cloud computing vendors should be reaping a windfall from bank clients, if a recent report is a true indicator.

For the first six months of 2013, trust services generated $14.9 million, while investment services and insurance generated $5.8 million, up 31% and 26%, respectively, from last year.

Regions Financial Corp., Alabama’s largest bank, said second-quarter profit fell 8.8 percent as expenses increased on costs related to early debt repayment and mortgage revenue declined.

The Senate's latest proposal to break up the big banks faces an uphill battle, but FDIC Vice Chairman Thomas Hoenig still says it could have a major impact on the movement to separate big banks' commercial and investment activities.

First-half revenue at the six biggest U.S. banks climbed for the first time in four years, fueling profits and vindicating Bank of America Corp. and Morgan Stanley leaders who presided over stock slumps.

Noninterest income increased 10% to $82.2 million in the second quarter, largely due to the bank’s purchase last year of money manager Rochdale Investment Management.

SIFMA's staged cyberattack Thursday was declared a success (at least by SIFMA). But experts say banks still need to put more defenses in place to protect their infrastructures.