Citigroup on Thursday revised its third-quarter earnings downward by $600 million, citing an unexpected spike in legal costs.

Profits at United Bankshares soared in the third quarter thanks largely to a recent acquisition, but credit quality weakened slightly as several commercial borrowers struggled to repay their loans.

Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.

First United Bank in Durant, Okla., has agreed to acquire First American Bank in Purcell, Okla.

Jan Estep, president and CEO of Nacha, discusses the organization's revised proposal to speed transactions on the automated clearing house network and how it improves on the plan that member banks voted down two years ago.

Small lenders are hoping a new representation and warranty framework by Fannie Mae and Freddie Mac will offer them alternatives to loan repurchases.

Fenway Summer, a firm started by ex-regulator Raj Date, announced plans Thursday to launch its subprime credit card in the spring of 2015.

Fifth Third Bancorp in Cincinnati plans to remain in the business of providing mezzanine finance, even though a rival investment management company has hired four of its lenders.

If we hope to achieve pay equality and see more women in leadership positions, women need to ask for what they believe they deserve, and companies must change ingrained attitudes toward those who do so.

Park Sterling in Charlotte, N.C. reported lower quarterly earnings as integration costs for a recent acquisition overshadowed solid loan growth.

The Florida company's business plan relies heavily on consolidation, but management hasn't announced a deal in more than two years. CEO Gene Taylor recently told analysts that M&A remains a focus, but the company will no longer discuss the topic until it has something to announce.

Apple Pay scooped up one million payment cards in its first 72 hours, 60% of which were Visa cards, but MasterCard's chief executive still expressed optimism for the payment network's chances in the rapidly shifting mobile landscape.

Pacific Commerce Bank in Los Angeles has agreed to buy Vibra Bank in Chula Vista, Calif.

Prosecutors in California settled a consumer fraud case with Debt Free Associates LLC and are now urging eligible clients to seek the refunds they are owed, Monterey County (Calif.) District Attorney Dean Flippo said.

Subprime auto loan delinquencies have risen to levels that are higher than before the financial crisis and aren’t rising at the same pace as loans to others, Citigroup analysts wrote in a report, without citing specific issuers.

Banc of California in Irvine reported strong earnings growth in the third quarter thanks to a massive surge in fees from the sale of loans.

Brookline Bancorp in Boston reported higher quarterly profits fueled by loan growth and improved asset quality.

Heritage Oaks Bancorp in Paso Robles, Calif., has revamped its audit committee after discovering it broke Nasdaq rules.

Valley National Bancorp in Wayne, N.J., reported higher earnings driven by loan growth, lower costs and improvements in credit quality.

Soaring student loans and the reluctance of Millennials to own houses and cars threaten to define the entire generation and put them behind - as a whole - throughout their lives, a chief economist at Equifax said.