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The article discusses circumstances that culminated in the sale of financial-services firm Wilmington Trust Corp. to rival M&T Bank Corp. in November, 2010. During the 1990s Wilmington began acquiring significant exposure to commercial loans through its purchases of local banks in Delaware. Many of these loans became troubled, and the bank proved reluctant to pressure borrowers.

The article discusses efforts by several large banks such as U.S. bank J.P. Morgan Chase & Co., Bank of America Corp., and Wells Fargo & Co. to curb computer hacking, particularly testing whether bank employees were unwittingly placing banks in danger by falling for what the article calls fake phishing electronic mail. The article presents comments from Wells Fargo chief executive officer (CEO) John Stumpf.

The article reports on the needed qualifications for the position of chief executive officer (CEO) of the Port Authority of New York and New Jersey and his job description.

The article discusses the array of payment options for U.S. consumers at retail store checkouts, including chip-enabled credit and debit cards, paying by smartphones and other devices, and efforts by retail outlets to update their payment terminal technology amid the 2015 holiday shopping season. The article discusses the use of chip-cards at U.S. retailer Target Corp., and options at retailers such as Whole Foods Market Inc. and Wal-Mart Stores Inc. The article presents comments from Target chief financial officer Cathy Smith.

The article states that hotel firm Starwood Hotels & Resorts Worldwide Inc. announced in late November 2015 that computer hackers stole credit-card and debit-card information from its customers in a data breach that lasted for almost eight months via malware that infiltrated hotel payment systems. The article presents comments from Starwood Americas president Sergio Rivera.

The article states that U.S. consumer electronics company Apple Inc. was negotiating with U.S. banks including J.P. Morgan Chase & Co., Capital One Financial Group, and Wells Fargo & Co. as of mid-November 2015 to develop a payment service system that would permit users to transfer money from their smartphones instead of cash or checks. According to the article, such a system wold be akin to digital payments firm PayPal Holdings Inc. platform known as Venmo.

The article states that several large banks including J.P. Morgan Chase & Co. and Wells Fargo & Co. were protecting their data from flowing to consumer finance aggregator websites run by companies such as Mint due to increased competition. The article states that J.P. Morgan chief executive officer James Dimon raised the issue with U.S. agency the Consumer Financial Protection Bureau head Richard Cordray during a meeting in Autumn 2015.

The article discusses the impact of the success of ride-sharing startups such as Uber Technologies Inc. on lenders such as Florida bank BankUnited Inc., which lend significant amounts of money against taxi cab licenses, also known as medallions. According to the article, U.S. banking regulators seized New York lender Montauk Credit Union in September 2015 after it had declined as a result of medallion loans. The article presents comments from BankUnited chief operating officer Raj Singh.

The article states that U.S. banks including PNC Financial Services Group Inc. and U.S. Bancorp raised millions of dollars in October 2015 by selling shares of stock in financial services corporation Visa Inc. that were purchased during Visa's 2008 initial public offering (IPO). According to the article, U.S. banks collectively own over $30 billion worth of shares in Visa.

The article credit card industry executives and experts disputed claims by streaming video company Netflix Inc. that the process of U.S. banks replacing credit cards and debit cards with computer chip-enabled cards in 2015 led to payment processing difficulties and involuntary cancellations of Netflix subscriptions. According to the article, Netflix fell about 270,000 subscribers short of new subscriber forecasts. The article states that shares of stock in Netflix declined by eight percent following trading and the release of third-quarter results on October 15, 2015.

The article states that U.S. retailers such as Kmart, Safeway Inc., and Home Depot were introducing gift-cards that give recipients small amounts of stock in firms such as Apple Inc., Coca-Cola Co., and Berkshire Hathaway Inc. in mid-October 2015. According to the article, the idea originated with former patent attorney and Palo Alto, California, startup company Stockpile Inc. founder Avi Lele. The article states that the U.S. agency the Securities and Exchange Commission (SEC) licensed Stockpile as a broker-dealer.

The article states that European bank Barclays PLC was planning to name former U.S. bank J.P. Morgan Chase & Co. executive James "Jes" Staley as chief executive officer (CEO) as of Autumn 2015. According to the article, Barclays executive chairman John McFarlane led a three-month search to replace ousted Barclays CEO Antony Jenkins, who was fired in July 2015. The article states that Staley's appointment would signal a possible return to a focus on investment banking for Barclays.

The article cites information from the data provider Bankrate Inc. to state that the average cost for an individual using an automated teller machine (ATM) unaffiliated with that individual's bank in the U.S. rose to $4.52 in 2014. The article also states that average costs were over $5 in cities such as New York City and Atlanta, Georgia. According to the article, the hike in costs was due to regulatory and consumer advocacy pressure on banks to reduce other fees and a decrease in the use of ATMs. The article presents comments from Bankrate senior financial analyst Greg McBride.

The article states that Buffalo, New York, bank First Niagara Financial Group. announced on September 30, 2015, that it was introducing new computer chip-enabled credit cards and debit cards that will require users to enter a personal identification number (PIN) rather than a signature for security purposes. The article presents comments from First Niagara consumer product management head Justin Bigham.

The article discusses efforts by the credit card industry and U.S. gas-station owners to prevent a wave of credit-card fraud taking place at gas pumps as of early September 2015. According to the article, gas stations will be among the last group of retail outlets to install equipment that accepts fraud-resistant chip-based debit and credit cards. The article states that such equipment does not have to be in place at gas stations until 2017. The article describes the accessibility of largely unattended gas pumps for crooks who can rig pumps with skimming devices to capture card data.

The article discusses allegations that New York City antitrust attorney and former law firm Willkie Farr & Gallagher LLP partner Keila Ravelo and her husband, Melvin Feliz, stole over $5 million from Willkie Farr and the U.S. financial services firm MasterCard Inc. and that Ravelo received confidential information from attorney Gary Friedman concerning antitrust lawsuits that resulted in a $6 billion settlement with MasterCard and financial services firm Visa Inc. that could be in jeopardy because of the actions of Ravelo and Gallagher.

The article states that U.S. financial services firm Capital One Financial Corp. agreed in August 2015 to purchase a health-care financing business owned by U.S. conglomerate General Electric Co. (GE) for $9 billion. The article states that following the completion of the transaction, GE will have sold about $78 billion of financial assets in 2015, and will be closer to reducing the ending net investment of the firm GE Capital. The article presents comments from Capital One commercial bank president Michael Slocum.

The article states that San Francisco, California, hedge fund ValueAct Capital Management LP had amassed a stake of about $1 billion in U.S. financial services firm American Express Co. (AmEx) as of early August 2015. According to the article, ValueAct Capital and founder Jeffrey Ubben did not make it clear whether it wold push for changes at AmEx. The article states that shares of stock in AmEx had declined 19 percent in 2015 prior to trading on August 7, 2015, in part because of losing a partnership with warehouse club Costco Wholesale Corp., but gained six percent after ValueAct's stake.

The article states that U.S. district judge Nicholas Garaufis blocked a proposed $79 million class-action settlement between American Express Co. (AmEx) and millions of merchants on the basis of the sharing of confidential documents by attorney Gary Friedman, representing merchants in the case, with attorney Keila Ravelo, representing credit card company MasterCard Inc. in a separate case involving merchants and credit card company Visa Inc.

The article states that a $6 billion class action antitrust settlement between credit card companies Visa Inc. and MasterCard Inc. and millions of merchants could be threatened by the discovery of emails exchanged by attorneys Keila Ravelo and Gary Friedman that may have contained confidential information. According to the article, Friedman represented merchants in the case via his law firm Friedman Law Group LLC, while Ravelo represented MasterCard as a partner in the law firm Willkie Farr & Gallagher LLP.

The article discusses efforts by the banking industry to redevelop bank branches in the mode of the financial services firm Capital One Financial Corp.'s Capital One 360 Cafe format. According to the article, the bank Bank of America Corp. planned to convert several thousand tellers to the position of relationship banker to promote high-tech automated teller machines (ATMs) and banks such as J.P. Morgan Chase & Co. and PNC Financial Services Group Inc. were planning similar changes. The article presents comments from consulting firm Celent analyst Robert Meara.

The article states that credit card company American Express Co. (AmEx) was lifting restrictions that prohibited merchants accepting AmEx cards from steering customers to other credit card brands such as Visa Inc. or MasterCard Inc. following a February 2015 court ruling by U.S. District Judge Nicholas Garaufis that found AmEx's restrictions to be anticompetitive.

The article states that U.S. technology company Google Inc. wold not earn transaction fees from credit-card issuers such as Visa Inc. and MasterCard Inc. for Google's mobile-phone payment service Android Pay, unlike U.S. electronics company Apple Inc.'s Apple Pay, due to changes in rules for services. According to the article, Visa and MasterCard standardized what is called the tokenization card-security service. The article presents comments from Visa president Ryan McInerney.

The article states that U.S. banks Citigroup Inc., Capital One Financial Corp., and J.P. Morgan Chase & Co. rejected a $19 million settlement supported by the U.S. financial services company MasterCard Inc. concerning a data breach suffered by U.S. retailer Target Corp. The article states that MasterCard and Target agreed to the settlement in April 2015 but required 90 percent backing from banks representing affected cardholder accounts.

The article discusses the impact of the May 29, 2015, death of financial services corporation American Express Co. president Edward Gilligan on the company's executive succession plan. According to the article, Gilligan was thought of as the likely successor to American Express chief executive Kenneth Chenault. The article discusses revenue struggles for American Express, the termination of its relationship with wholesaler Costco Wholesale Corp., and the loss of an antitrust lawsuit brought about by the U.S. agency the Justice Department.

The article cites a study by the credit-scoring and analytics firm FICO that states that the number of thefts of debit card information from U.S. automated teller machines (ATMs) between January 2015 to April 9, 2015, was the highest during that period in 20 years. According to the article, several U.S. banks were attempting to issue credit and debit cards with enhanced anti-counterfeiting technology. The article presents comments from FICO card-alert service manager John Buzzard.

The article discusses banks that issue co-branded credit cards geared toward creditworthy customers who demonstrate loyalty to particular retail outlets, airlines, and hotel chains such as Costco Wholesale Corp., BP PLC, and Forever 21 Inc. The article cites a survey compiled by the marketing firm Packaged Facts that indicated that almost 53 percent of U.S. credit card users had a card associated with a merchant, airline, or hotel chain.

The article discusses lawsuits filed in several U.S. courts by small U.S. banks and credit unions, including Roseburg, Oregon, firm Umpqua Bank, Whitman, Massachusetts, firm Mutual Bank, and St. Francis, Minnesota, firm Village Bank, in an effort to recover money lost during data breaches of U.S. retailers Target Corp. and Home Depot Inc. According to the article, the banks were attempting to change an industry standard in which major credit card networks such as Visa Inc. and MasterCard Inc. negotiate settlements with breached merchants.

The article discusses the U.S. banking industry's demand for the production of credit cards with embedded computer chips, known as chip cards, in an attempt to reduce card fraud and counterfeiting. The article examines the activities of an Exton, Pennsylvania, chip card manufacturing plant operated by the firm Oberthur Technologies, challenges to implementing chip card technology in retail outlets of such companies as Wal-Mart Stores Inc. and Target Corp., and the costs of manufacturing the cards.

The article reports that credit score creator Fair Isaac Corp. will create a new metric for assessing the creditworthiness of those who don't have a conventional credit score due to such events as bankruptcy or foreclosure. The company is testing a new metric that is derived from payment histories with bills including those for electricity and cellphone service, as well as change-of-address frequency and other factors.

The article discusses setbacks at financial firm American Express Co. In the first quarter of 2015 the company announced it would not be renewing a long-standing and lucrative credit-card partnership wit retailer Costco Wholesale Corp. Days later it lost an antitrust suit filed by the U.S. government. On March 25, 2015 chief executive Kenneth Chenault will describe to investors and analysts how he plans to improve his company's performance.

The article discusses fraudulent transactions involving the Apple Pay electronic payment system from smartphone maker Apple Inc. Perpetrators are entering data from stolen credit cards into iPhone smartphones equipped with Apple Pay and proceeding to make purchases, often from Apple's own retail stores. Banks are trying to stem the fraud by imposing more stern verification procedures for credit cards used with Apple Pay.

The article reports that banking company Citigroup Inc. and credit-card company Visa Inc. have won credit-card contracts from retailer Costco Wholesale Corp. Visa will be the only brand of credit card accepted by Costco starting in April 2016. In addition, Citigroup and Costco will together issue a co-branded card. Over a previous 16-year period the only cards accepted at Costco had been those from financial company American Express Co.

The article discusses banking company J. P. Morgan Chase & Co. as a source of top executive talent. Morgan alumni include chief executive officer (CEO) Charles Scharf of credit-card company Visa Inc. and CEO Frank Bisignano of payments-processing firm First Data Corp. In February 2015 former Morgan executive Bill Winters was named CEO of banking company Standard Charterd PLC. The departure of Morgan executives to other firms has created uncertainty about who will succeed Morgan CEO James Dimon.

The article discusses a fashion trend among teenage girls of wearing socks that don't match. Jennifer Swanson Price, the mother of a 15-year-old girl in Washington, D.C., says the practice at least makes laundry easier. Jonah Staw, founder of the LittleMissMatched apparel chain which sells packs of mismatched socks, agrees with her.

The article reports that U.S. District Judge Nicholas Garaufisa ruled in favor of the U.S. Justice Department in its antitrust suit alleging financial company American Express Co. (Amex) engaged in anticompetitive behavior by refusing to let merchants that honor its credit cards promote cards from other issuers including Visa Inc. and MasterCard Inc. Additional information is presented about the history of Justice's case against Amex, and the potential impact of the ruling on its business.

The article reports that retailer Costco Wholesale Corp. and financial firm American Express Co. (Amex) will end their agreement under which Amex credit cards were the only ones accepted at Costco outlets. Amex chief executive Ken Chenault said his company was unable to reach agreement on an economically sensible renewal of its current pact with Costco. Banking companies J. P. Morgan Chase & Co. and Citigroup Inc. are both seeking to offer co-branded credit cards with Costco.

The article discusses concerns about falling oil prices among banks in Texas that have made loans to hotels and other businesses that cater to workers in the state's energy industry. Mutual of Omaha Bank and Cadence Bank in Houston are among banks keeping a closer watch on the businesses they have issued loans to. The Texas Department of Banking is monitoring several small banks believed to have particularly heavy exposure to the energy industry.

The article discusses credit-card processor First Data Corp. For the fourth quarter of 2014 the company recorded its first net profit since 2007, the year when private equity firm KKR & Co. took First Data private in a leveraged buyout. Chief executive Frank Bisignano said the company is starting to see the benefits of prior investments. It is said First Data could potentially hold an initial public offering in 2015.

The article discusses consumption in the U.S. Figures from the Commerce Department show consumption grew 4.3% during the final quarter of 2014. However, chief executive Ajay Banga of credit-card company MasterCard Inc. says consumers are not spending the cash they are saving as a result of lower gasoline prices. A survey among customers of MasterCard rival Visa Inc. found consumers are mostly either saving that additional money or using it to pay down debt.

The article discusses an earnings report for the fourth quarter of 2014 from financial-services firm American Express Co. Although both revenue and net income rose the results failed to satisfy investors, with the company's stock price falling 2%. Expenses rose 3% despite analysts' expectations for greater cost control. As part of its effort to improve efficiency American Express said it would eliminate 4,000 jobs.

The article reports that financial firm Morgan Stanley fired one of it financial advisers, Galen Marsh, amid accusations he stole account data about 350,000 of Morgan's clients and posted some of it online. Marsh's attorney, Robert Gottlieb, says Marsh took the data but did not put any of it on the Internet. Morgan said the incident harmed no clients.

The article discusses a security shortcoming of credit cards containing embedded chips that will be introduced during 2015 by various financial companies including Discover Financial Services Inc. and J. P. Morgan Chase & Co. Card issuers have opted to let users authorize transactions with their signatures rather than personal identification numbers (PINs), thus making the cards vulnerable to fraudulent use if lost or stolen.

The article reports that software company Microsoft Corp. will allow customers with online accounts for certain Microsoft products to make payments with the bitcoin virtual currency. Microsoft executive Eric Lockard said the move, which will be made possible through a partnership with digital-currency payment processor BitPay, reflects growing interest among consumers in virtual currencies.

The article discusses Boost, an entrepreneurial camp in San Mateo, California founded by Adam Draper, which allow participants to develop businesses based on the virtual currency bitcoin. Topics include how Boost is funded by the venture-capital firm Draper Fisher Jurvetson, the involvement of draper's father, Tim Draper, and the participating entrepreneurs such as Cathryne Nicholson, Matt Slater, and Brian Bamido.

The article discusses increased lending and corporate profits in the U.S. credit-card industry. Topics include the role of the Card Act on decreased consumer payment delinquency rates, changes to consumer practices in practicing more financial caution, and credit card companies borrowing at near-zero percent interest rates.

The article discusses the Apple Pay mobile-payments service introduced on September 9, 2014 by consumer-electronics maker Apple Inc. The service will employ near-field communications technology built into the company's iPhone smartphones and Apple Watch smartwatch. Apple has entered into supporting agreements with several credit-card issuers including MasterCard Inc., American Express Co., and Visa Inc.

The article reports that credit-card companies MasterCard Inc. and Visa Inc. are introducing technology called tolkenization that replaces sensitive customer information on credit cards with numbers that can be used to validate a customer's identity. Data breaches at several retailers including Home Depot Inc. and Target Corp. have added urgency to improving card security.

The article reports that retailer Home Depot Inc. is investigating a possible security breach that may have involved the theft of customers' credit- and debit-card information. Security blogger Brian Krebs said the breach may have originated in April or May of 2014. It is said Home Depot has been installing equipment for processing cards with embedded computer chips, which are more secure than conventional cards with magnetic strips.

The article discusses imprinters for manually processing credit cards. Biff Matthews of CardWare International says sales of the devices, also known as knuckle busters, have risen amid publicity about security breaches at the computer systems of various retailers. Restaurant chain P. F. Chang's China Bistro Inc. has begun using imprinters at its restaurants.