The National Foundation for Credit Counseling's acquisition, announced Monday, will create the largest national nonprofit network of certified student loan counselors.

The CFPB's proposed reforms for payday and other high-cost loans are both welcome and long overdue. But there are two ways the agency can further improve future requirements.

CardFlex Inc. and its principals have settled charges that they illegally processed more than $26 million in consumer charges on behalf of a company called I Works.

Camden National in Camden, Maine, has agreed to buy SBM Financial in Portland, Maine.

He could have easily shunned the spotlight after leaving Merrill Lynch, but instead John Thain accepted the challenge of reviving the troubled CIT Group. By all measures he's succeeded, cementing his reputation as a fixer, but the job is hardly complete. Next up: transforming the commercial lender into a traditional regional bank through its closely watched acquisition of OneWest Bank.

Fedcoin could have a lot of benefits, such as helping unbanked buy goods and pay bills online. But about those "know-your-customer" risks....

Small merchants in are in no hurry to install EMV card readers, contending that losses from counterfeit credit cards are minimal. That worries bankers, who fear that they could end up looking bad if a small business is victimized by fraud and is then left to absorb the loss.

Notable quotes from JPMorgan Chase's Marianne Lake, Santander's Ana Botin, Citigroup's Michael Corbat and others from around the industry

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PayPal will pay a $7.7 million fine for processing payments from customers that have ties to sanctioned parties on a U.S. Government list.

Alternative financial service providers that sell prepaid cards, bill pay, check cashing and other services to underbanked consumers are becoming more sophisticated with the ways they mine customer data.

Four Oaks Fincorp has added a pair of directors with close ties to the Four Oaks, N.C., company.

Foundation Bancorp in Bellevue, Wash., has sold $15 million of convertible preferred stock in a private offering.

Village Bank and Trust Financial in Midlothian, Va., has raised nearly $9 million by selling shares to existing investors.

Large mortgage servicers continued to shed delinquencies as overall loan performance improved in the fourth quarter, the Office of the Comptroller of the Currency said Friday.

United Community Banks took hefty hits during the financial crisis due to its focus on real estate lending. Today, the Georgia company is diversifying by building teams dedicated to SBA lending and making other specialty loans.

Retailers have been able to get credit card surcharge bans in California and New York thrown out by using an unusual legal argument based on the First Amendment. The wins are significant, but merchants still need to fight through a legal thicket before card surcharges become practical.

A federal court has halted the operations of a company that calls itself "FTC Credit Solutions." The company allegedly used false affiliation with the FTC to market bogus credit repair services to Spanish-speaking consumers.

First West Virginia Bancorp in Wheeling has removed the interim tag from William Petroplus' title as president and chief executive.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including thoughts on Wall Street's dwindling number of high-powered women and the merits and drawbacks of the CFPB's consumer complaint database.