Upstart, a marketplace lender founded by ex-Google employees, has more than doubled its funding after receiving an investment from a group led by activist hedge-fund investor Dan Loeb. The company plans to use the funds to improve its underwriting analytics.

The Treasury Department launched an inquiry into the marketplace lending industry on Thursday, seeking information on its business models, customers and whether such firms should be forced to keep some "skin in the game."

The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.

Consumer Financial Protection Bureau Director Richard Cordray testified Wednesday before the Senate Banking Committee about the release of the Bureau’s seventh semi-annual report.

Washington Federal in Seattle reported higher quarterly profit due to gains from the sale of foreclosed properties and certain investments.

The Minnesota Commerce Department announced Wednesday that collection agency Tucker, Albin and Associates Inc. is facing a $500,000 fine for allegedly harassing and threatening small businesses in the state.

BB&T in Winston-Salem, N.C., met Wall Street's earnings expectations after reporting revenue rose slightly. The company's second-quarter net income available to shareholders rose 7% from a year earlier, to $454 million. Revenue increased 1.3%, to $2.3 billion.

M&T Bank in Buffalo, N.Y., reported higher quarterly profit that reflected increased fees and higher net interest income.

Citigroup Inc., the third-largest U.S. bank, posted profit that beat analysts' estimates as Chief Executive Officer Michael Corbat showed progress on cutting costs.

A total of 597,589 U.S. properties with foreclosure filings in the first half of 2015, down 13% from the previous six months and down 3% from the same time period in 2014, according to RealtyTrac's Midyear U.S. Foreclosure Market Report.

The combination of swelling deposits and weak loan growth continues to be a tough problem for regional banks. U.S. Bancorp's Richard Davis thinks higher loan growth is just around the corner to solve the problem, but PNC's Bill Demchak fears deposits could flee faster than lending will ramp up.

Bank of America is trumpeting the doubling of its profits in the second quarter as a payoff from its long cleanup efforts. But the results relied mainly on lower legal costs and expense savings, while revenue declined in four key business lines.

PacWest Bancorp, the parent of Pacific Western Bank in Los Angeles, reported earnings of $85.1 million in the second quarter, up 16% from the prior quarter.

Peoples Bancorp in Ohio wants to encourage cross-selling but limits the use of employee incentive payments to make it happen. Instead, Peoples is trying to build a corporate culture in which employees understand all of its products and want to help their colleagues sell them.

Federal Housing Administration endorsements continue to rise following the 50-basis point cut in January.

Santander Consumer USA Holdings named Blythe Masters nonexecutive chairman, replacing the executive who quit the post less than two weeks ago and a week after the subprime auto lender's parent company was hit with a regulatory order.

ZestFinance in Los Angeles has introduced a loan product for subprime borrowers whose credit scores nearly qualify as prime.

BancFirst in Oklahoma City has agreed to buy CSB Bancshares in Yukon, Okla.

Officials in Maury County, Tenn. will begin working with collection agency Pioneer Credit Recovery to recover an estimated $10 million in debts owed to the county.

Three Democratic members of Congress called on the Department of Housing and Urban Development to reissue the proposal for public comment with changes.