Bank of America Corp., the second-biggest U.S. lender by assets, posted a $3.36 billion first-quarter profit that beat analysts' estimates, as legal costs tumbled.

U.S. Bancorp posted profit that matched analysts' estimates on gains in mortgage-banking revenue.

A lawsuit filed last month by four student loan debt collection companies against the U.S. Department of Education was dismissed Tuesday by a federal judge.

Three former executives of Freddie Mac have settled charges that they lied about the government-sponsored enterprise's exposure to subprime mortgages before the market collapsed.

The San Francisco bank has produced enough growth in mortgages, C&I and other areas and made other moves to offset low rates. It is a hopeful example for mortgage-heavy banks and other lenders battling tight margins.

More than 70 banks are set to hit their seventh anniversary this year, crossing a threshold where they will have reduced regulatory scrutiny and relaxed capital ratios. While many are excited about the potential to growth, they are aiming to do so carefully.

JPMorgan Chase reported strong loan growth and higher utilization in its commercial banking unit, which serves midsize businesses. It could set the stage for others to report similar results. Still, low interest rates are muffling the benefits.

Still reeling from underwriting guidelines that went into effect last year, some small lenders are worried that a new mortgage disclosure regime might be the thing that pushes them over the edge.

PacWest Bancorp in Los Angeles announced Tuesday that Chief Financial Officer Victor Santoro plans to retire from the post this summer and West Coast banking veteran Patrick Rusnak will succeed him in that role.

More banks are buying mortgage servicing rights now, reversing a post-crisis shift that saw nonbanks dominate the MSR purchasing landscape, according to Fitch Ratings.

The Consumer Financial Protection Bureau filed a lawsuit Tuesday against the owner of several tax-preparation outlets that allegedly steered low-income clients into expensive loans against their anticipated refunds.

Marketplace lenders are aggressively marketing their loans as a way to refinance expensive credit card debt. And with more affordable interest rates and faster loan application processes, there's reason to believe that firms like Lending Club and SoFi will beat out banks.

Ocwen Financial announced a preliminary loss of $546 million, or $4.18 per share, for fiscal year 2014 Tuesday, on a higher-than-expected goodwill impairment and charges stemming from the company's settlement with the New York Department of Financial Services.

Prosper Marketplace, the second-largest consumer finance marketplace lender by origination volume, and OnDeck Capital, a direct online lender to small businesses, have agreed to partner on customer referrals.

The Consumer Financial Protection Bureau and the Navajo Nation announced Tuesday that they are taking action against companies and individuals who operated an illegal tax refund scheme.

Two debt brokers agreed to settle charges that they exposed highly sensitive information about tens of thousands of consumers while trying to sell portfolios of consumer debt on a public website.

Citibank and the online marketplace lender Lending Club, with the help of Varadero Capital, will provide $150 million in loans geared toward fulfilling Citi's community reinvestment obligations.

Wells Fargo & Co., the most valuable U.S. bank, said low interest rates pushed first-quarter lending margins below 3 percent for the first time since the 1990s.

Sound Financial Bancorp in Seattle has selected a former Fannie Mae executive to join its board.

JPMorgan Chase & Co., the biggest U.S. bank, said first-quarter profit climbed 12 percent on rising revenue from fixed-income trading.