Banks worldwide are in danger of losing significant profits in several lending areas to nonbank alternative lenders, according to a McKinsey study.

John Neal will retire later this year as president of Union Bank & Trust in Richmond, Va. Neal, 66, will step down on Dec. 31 after 24 years at the $7.5 billion-asset bank.

Emclaire Financial in Emlenton, Pa., has exited the Small Business Lending Fund.

One woman on the all-male management board is not too much to ask, especially if it can take two years (or 20?) to get there, Deutsche Bank decides; Goldman, Morgan Stanley and Citi try mending their leaky pipeline, with some success (but sadly, 100 more years of this is what we're looking at, ladies); also get updates on Mary Jo White, Sallie Krawcheck and WomenCorporateDirectors.

Recommended reforms released by the Department of Education for servicers and private student lenders are part of intensifying federal efforts to help struggling borrowers.

The First Bancshares in Hattiesburg, Miss., has named the president of the University of Southern Mississippi to its board.

An auto finance company and its title lending arm must overhaul their collection practices and provide consumers $44.1 million in cash relief and balance reductions to settle federal charges.

USAA will shift about 120 positions in its mortgage operations from an office near Dallas to offices in Tampa, Fla., and Phoenix.

A housing report released Thursday shows that buying a home was at the most affordable level in two years in the first quarter, despite the average home price increasing at more than twice the pace of the average weekly wage nationwide.

Outdated and inefficient processes come at the cost of face time with customers and weigh banks down with unnecessary expenses. Here are some of the most common problems faced by the industry and ideas about how to fix them.

The FTC's second Debt Collection Dialogue event focused on regulatory compliance and the complexities of the current collections climate.

JPMorgan Chase has paid off $3.56 billion of the $4 billion it owes in consumer relief credit as part of a 2013 settlement over marred mortgage-backed securities issued before the crisis.

Town and Country Financial in Springfield, Ill., has agreed to buy the parent of Premier Bank of Jacksonville in Illinois.

Community West Bancshares in Goleta, Calif., has received regulatory approval to exit the Troubled Asset Relief Program.

A handful of moderate Democrats supported a controversial bill to restructure the Consumer Financial Protection Bureau, helping the House Financial Services Committee approve the legislation.

First Data, the payments processor taken private by KKR & Co. eight years ago, is seeking to raise as much as $3.2 billion in what’s poised to be the biggest U.S. initial public offering this year.

Ameris Bancorp in Moultrie, Ga., has agreed to buy Jacksonville Bancorp in Florida.

Pacific Premier Bancorp in Irvine, Calif., has agreed to buy Security California Bancorp in Riverside, Calif.

Wells Fargo, the world’s largest bank by market value, agreed to buy the bulk of a railcar- and locomotive-leasing unit from General Electric as the industrial giant retreats from financial services.

Park Sterling in Charlotte, N.C., has agreed to buy First Capital Bancorp in Glen Allen, Va.