CIT Group laid out plans to boost profitability and cut costs as Ellen R. Alemany takes over as chief executive officer of the commercial lender from John Thain, who's stepping down at the end of the month.

The first protection a consumer needs is the assurance that any new reforms will not inadvertently drive all regulated credit from the market.

Northwest Bancshares in Warren, Pa., has agreed to buy Best Insurance Agency, an employee benefits and property and casualty insurance firm in Butler, Pa.

Central Bancshares in Muscatine, Iowa, has agreed to buy Brimfield Bank in Brimfield, Ill.

The Consumer Financial Protection Bureau has implemented a new rule that broadens the ability of lenders in rural and underserved areas to originate qualified mortgages.

California Republic Bancorp, which has been aggressively originating and securitizing auto loans for years, is keen on revving up the engine to expand from a 10-state area to a national platform.

Military families and service members are submitting debt collection complaints at twice the rate of other consumers, the Consumer Financial Protection Bureau said Tuesday in a report.

Bakhshi, who takes over as CEO in June, brings with her a track record of innovation and a reputation for getting the most out of her teams.

The CFPB released an annual report Tuesday that revealed service members have been submitting debt collection complaints at nearly twice the rate of non-military consumers.

ChoiceOne Financial Services in Sparta, Mich., will begin work on remodeling its bank's headquarters in May.

The agency may finally be reaching resolution on whether Fannie Mae and Freddie Mac will allow principal reductions, two years into Director Mel Watt's tenure as agency director and nearly a decade after the mortgage bubble burst.

West Virginia Attorney General Patrick Morrisey’s office has reached a $19.7 million settlement with Cavalry Portfolio Services in a six-year-old case where the debt collection firm faced accusations of pursuing debts in West Virginia without a license to do so.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issue a proposal to rein in high-cost payday loans.

Todd Sherman, who with his brother Tyler Sherman co-founded mortgage software developer Motivity Solutions, has died.

The sheer volume of regulations adds time and expense to closings without much benefit when consumers’ main interest is to get funds as quickly as possible.

South State in Columbia, S.C., has promoted one of its executives to become chief executive of its bank.

The Federal Trade Commission cautioned the collection industry to avoid buying, selling or collecting any alleged payday loan debt portfolios serviced by AMG Services.

An activist investor is laying the groundwork for a potential proxy battle with Seacoast Banking Corp. of Florida in Stuart.

Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor.

The Supreme Court on Monday asked the executive branch for its views on a legal case that has sparked worry within the financial industry. That opinion is expected to have a big impact on whether the justices decide to hear Madden v. Midland Funding.