CoVantage Credit Union of Antigo, Wis., will offer its members mobile banking services from Tyfone.

The services include Symitar Episys core integrated mobile banking and ID authentication mobile security, Tyfone said Tuesday. Customers who do not have an online bank account will be able to manage their accounts from their mobile phones.

In addition to standard mobile banking features such as checking account balances, the based in Portland, Ore., companys mobile banking system offers account aggregation so customers can see multiple accounts in one session. Customers can also create and manage payees with bill payment services.

The credit union plans to add mobile remote...

A senior Bank of England official has made clear that the UK should not water down international rules intended to reform the banking system.

Chief cashier Chris Salmon told an audience in London on Tuesday that while few commentators doubted the need for reform because of the scale of the banking crisis, there were some calls that these changes were too ambitious and should be watered down.

There have been warnings, for instance, that new rules setting how much capital banks should hold – designed by the supervisors in Basel, Switzerland – and the type of capital, need to be delayed given the fragile state of the economy. But, Salmon said: Scaling back our ambitions...

Banks became the eye of the financial crisis hurricane in 2008, when their operating and accounting practices led to instability in both consumer and commercial markets across the globe. Since then, new rules have been put in place to control the ability of banks to take advantage of consumers. The largest banks are finding ways around these rules, however, and new fees and charges have popped up throughout 2011. What will the new year bring for banks and their customers?

Dodd-Frank Legislation
The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, was Congress response to the role of financial institutions in the recession. The Act is an attempt...

WASHINGTON (Reuters) – - The Senate Banking Committee expects to vote on Thursday, February 2 on legislation containing more sanctions on Iran, the panel announced on Friday.

Lawmakers want to strengthen the economic chokehold on Iran to discourage Tehran from seeking to build a nuclear bomb. The panels announcement gave no details of the upcoming legislation, saying these would be released next week.

(Reporting By Susan Cornwell)

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