Chris Cumming

Ally Bank said Thursday that it plans to sell a portfolio of mortgage-servicing rights to Quicken Loans for approximately $280 million. The loans have an unpaid principal balance of $34 billion as of Jan. 31 and are expected to be refinanced after the sale.

Cathay General Bancorp (CATY) in Los Angeles has repaid half the money it received through the Troubled Asset Relief Program.

Shareholders of ECB Bancorp (ECBE) have approved the Engelhard, N.C., company's sale to Crescent Financial (CRFN).

Freedom Credit Union in Pennsylvania has adopted the Teller Management System from Financial Management Solutions (FMSI).

Financial technology company Fenergo has unveiled a new version of a product designed to help with data management and compliance.

JPMorgan Chase plans to make changes to its automatic withdrawal policies to better protect its customers from aggressive payday lenders.

Western Alliance Bancorporation in Phoenix is looking for a new chief operating officer. Kenneth Vecchione will resign on April 5 to become the chief executive at another publicly traded financial services company, Western Alliance said Wednesday.

Fentura Financial (FETM) in Fenton, Mich., has turned a profit thanks to an improvement in its loan portfolio.

Bank of Virginia (BOVA) in Midlothian is committing more than $80 million to two programs involving federally backed debt.

Citizens Financial Group in Providence, R.I., has formed a health care banking group for Massachusetts, Connecticut and Rhode Island, according to a news report.

First PacTrust Bancorp (BANC) in Irvine, Calif., is delaying the filing of its annual report after switching auditors and seeing several top executives leave in recent months.

Enterprise said Tuesday that its banking subsidiary has reached a deal to buy Gorman & Gorman Home Loans, a division of F&M Bank and Trust in Hannibal, Mo.

Huntington Bancshares announced Tuesday that it has exceeded its three-year pledge to lend $4 billion to small businesses across its six-state footprint.

A unit of SVB Financial Group (SIVB) in Santa Clara, Calif., plans to raise $300 million for a venture capital fund.

BankUnited, the Florida bank led by John Kanas, has hired two of his former colleagues at Capital One — Joe Roberto and Kelly Sheehan — to run its nascent operation in the Big Apple.

Nomura Research Institute (NRI) is expanding its business in Europe with a new office.

California Bank of Commerce in Lafayette, Calif., has hired a bank consultant as its president and chief executive.

Community Financial Shares (CFIS) in Glen Ellyn, Ill., is extending its rights offering to boost shareholder participation.

U.S. Bancorp (USB) has agreed to purchase Deutsche Bank's (DB) municipal bond trustee business.

A dissident investor's candidate has joined the board at First Financial Northwest (FFNW) in Renton, Wash., ending a costly legal dispute.