Americans could have significantly more money saved for their retirement, if not for all the fees that the asset management industry charges. What's worse is most savers are unclear how much they are paying, to whom, and for what. The authors of "What They Do With Your Money: How the Financial System Fails Us and How to Fix It" propose some changes that they say would not only help the economy grow faster but improve corporate America overall.

President-elect Donald Trump's imminent choice for Commerce secretary is a billionaire investor who swooped in to prop up troubled banks after the financial meltdown. Some members of the banking world, including regulators, may be glad he was picked for Commerce chief instead of Treasury secretary.

Opus Bank in Irvine, Calif., has hired a veteran risk manager to structure senior debt for commercial and specialty banking.

Glen Burnie Bancorp in Maryland has announced an executive departure for the second time in three months.

The Federal Deposit Insurance Corp.'s third-quarter earnings report was stacked with good news: record earnings and lending, fewer troubled loans and higher interest and noninterest income. Yet there was one statistic that is likely to fuel more calls for help from Washington.

First Bancorp in Damariscotta, Maine, has repurchased warrants it sold to the Treasury Department under the Troubled Asset Relief Program.

Texas Capital Bancshares in Dallas is planning to raise more than $225 million from a stock offering.

The largest shareholder at HopFed Bancorp in Hopkinsville, Ky., is calling on the company's president and chief executive to resign.

Ohio Legacy in North Canton viewed FirstMerit’s sale to Huntington as a motivator find a buyer of its own. It turned to United Community, an institution it had talked to on two other occasions.

IBM Southeast Employee Credit Union in Delray Beach, Fla., has reportedly filed an application to buy Mackinac Savings Bank in Boynton Beach, Fla.

Two Midwest community banks plan to close a total of 11 branches and record charges to pay for the shutdowns.

Citizens Building and Loan in Greer, S.C., will have a new president and chief executive next year.

James Cope, a former Pinnacle Financial Partners director who pleaded guilty to insider trading in October, was supposed to pay a $55,000 fine as part of a plea deal. But the judge hearing the case contends he should pay more.

The Pennsylvania company has redoubled its outreach to low- and moderate-income consumers by partnering with Operation Hope on a down payment assistance program and naming a veteran banker to the newly created post of director of fair and responsible banking. But despite these efforts, history says Fulton is unlikely to escape punishment if the Justice Department finds that it violated fair-lending laws.

The longtime CEO of Oconee Federal Financial in Seneca, S.C., is handing the reins to his son. Curtis T. Evatt, Oconee's president and chief financial officer, will succeed T. Rhett Evatt as CEO of the $484 million-asset holding company and Oconee Federal Savings and Loan Association on Jan. 1.

Belmont Savings in Massachusetts isn't trying to fire or replace its employees who work the phones pursuing sales leads, but it has made some technological investments to get more out of them.

Hopes are high among bankers that soon-to-be President Donald Trump and the new Congress will quickly lower the corporate tax rate. But a tax overhaul might benefit community banks and small regionals more than larger banks, especially those reliant on tax strategies that might be less meaningful in a new system.

Huntington Bancshares in Columbus, Ohio, said it plans to add 1,000 jobs by 2024 at a new office complex in Columbus and lend $300 million to low- and moderate-income communities in the city over the next five years.

Old Dominion National Bank has opened a new office in the northern Virginia suburbs of Washington and has hired five bankers to work there.

Old National Bancorp in Evansville, Ind., has agreed to pay for $79.1 million to buy 16 branches and other offices that it had been leasing.