The Consumer Financial Protection Bureau on Tuesday asked a federal court to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

The San Rafael, Calif., company has stayed at roughly the same asset size for six years now, even though it has the capacity and desire to become much larger. The reasons speak to the competitiveness among lenders and the fickle nature of bank M&A.

The CFPB wants a federal district court to enter a final judgment to shut down a student debt relief scheme that allegedly charged borrowers millions of dollars in illegal upfront fees for federal student loan services.

First Resource Bank in Exton, Pa., has redeemed its remaining preferred shares tied to the Small Business Lending Fund.

About a fifth of regional banks look at their efficiency ratios as they set executive compensation. Ongoing revenue challenges and investor pressure could push more boards to consider efficiency — or simple cost-cutting — to determine pay for high-level officers.

Tidelands Bancshares in Mount Pleasant, S.C., has been declared in default on $18.3 million of trust-preferred securities.

Ginnie Mae needs more, and better-paid, staff to keep up with growing risks on nonbank seller/servicers, the watchdog agency head said.

The Education Department could ban colleges from including mandatory arbitration clauses in student enrollment agreements. The proposal is part of ongoing rule-making talks focused on creating a new debt relief process for defrauded student loan borrowers.

Midwest BankCentre in Lemay, Mo., has agreed to buy Bremen Bank & Trust in Hazelwood, Mo.

Old National Bancorp in Evansville, Ind., has given its chief executive Bob Jones the added title of chairman.

The activist investor seeking to remove Steve Streit as chief executive of Green Dot will nominate three payments and financial services industry executives to the prepaid card company's board.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

Less than a year after investing in MX Technologies, USAA has partnered with the startup to provide personal financial management tools to its 11.4 million members.

The last individual defendant in a mortgage modification scam is banned from selling debt relief and mortgage-related products and services and from telemarketing under a court order obtained by the Federal Trade Commission.

Consumers' expectations about earnings, income and spending improved in February, according to the Federal Reserve Bank of New York’s latest Survey of Consumer Expectations.

BB&T in Winston-Salem, N.C., has increased the roles of two executives as part of an effort to focus more on digital projects.

FSB Community Bankshares in Fairport, N.Y., plans to convert from partial mutual ownership to a fully stock-owned bank.

The bank that for many defines ultrawealthy is now in the market to serve investors whose employers don't even offer 401(k)s.

The $9.6 billion-asset bank claims that applications for the loans can be completed in two minutes or less, or in three minutes for loans that require a Small Business Administration guarantee.

Standard Bank & Trust in Hickory Hills, Ill., has hired an investment bank to explore a possible sale, according to Crain's Chicago Business.