The Senate is the next battleground for legislation requiring the Consumer Financial Protection Bureau to rescind 2013 guidance on indirect auto lending, but the bill may do nothing to slow enforcement efforts.

Pacific Investment Management Co. sued Citigroup over the bank's role as trustee for $13.8 billion of mortgage-backed securities made toxic when the housing bubble burst, leading to "substantial damages."

Citywide Banks of Colorado in Denver has raised $7 million from private-equity investors.

As U.S. banks wrangle with account-aggregation sites over screen scraping, the U.K. is championing a safer method for sharing data that could transform the way customers interact with financial institutions.

Auto-loan, commercial-mortgage-backed and other securitizations use what is known as the swaps curve to price floating-rate deals. But pricing volatility is causing some to ask whether the market should go back to Treasuries after a 15-year hiatus.

The $8.6 billion-asset company said in a press release Wednesday that James Scott will become chairman on Jan. 21.

Banks continued to report strong profits in the third quarter, but the Federal Deposit Insurance Corp. on Tuesday highlighted a definite warning sign it sees in bank portfolios: riskier loans.

While the CFPB's latest monthly complaint report highlights bank account and service complaints, debt collection ranked as the top category.

No two mortgage servicing rights portfolios look the same, and buyers have strong opinions about the kinds of deals they want to do. Here are some factors that can swing MSR transaction values, according to Matt Maurer, managing director at MountainView Capital Holdings.

Fauquier Bankshares in Warrenton, Va., is planning to record a $5.5 million impairment charge tied to a souring loan relationship.

There is no shortage of opinions about payday loans. But the same cannot be said for hard research, which is needed before regulators write new rules for the industry.

TCF Financial in Wayzata, Minn., is making preparations for its next management team.

Mark Simmons, a seasoned commercial lender, is planning to open a bank in California’s Orange County that is dedicated to making loans to businesses. Core Commercial Bank, expected to be the state’s first de novo since 2008, would jump into a market where commercial lenders are plentiful — and aggressive.

The $75 million-asset bank said in a press release Tuesday that Michael Clabby had become its acting president and chief executive, effective last Friday.

Merchants Bancshares in South Burlington, Vt., is set to have a new chief executive.

TransUnion and Ontario Systems announced Tuesday a collaboration to offer collection agencies TransUnion's new CreditVision recovery model.

A new Fannie Mae program allowing nonborrower income to count in qualifying homeowners for low-down payment loans received near-universal praise from industry representatives and federal officials at a recent housing symposium here.

A report released by Republicans on the House Financial Services Committee accuses the CFPB of willfully overstepping the law to punish indirect auto lenders for alleged discriminatory practices that, the report says, are fair business.

The Federal Deposit Insurance Corp.'s third-quarter industry update pointed to signs of banks expanding their risk profiles despite slow revenue growth.

Charles Cook will retire next year as chairman of Truxton Corp. in Nashville, Tenn.