Citigroup issued quarterly results that pleased the market by simply not being as bad as they could have been. Yes, Citi spent $7 billion to settle a mortgage securities probe, and there are still more legal costs coming. But some segments strengthened, suggesting Citi may have hit bottom and has nowhere to go but up.

For months, the Consumer Financial Protection Bureau floated a contract giving it control over the content of bank customers' complaints submitted online to the agency. It scrapped the plan after industry objections.

Pan Pacific Bank (PPFC) in Fremont, Calif., reported a spike in quarterly earnings after reclaiming its deferred-tax asset.

Jefferson Bankshares in Oldsmar, Fla., has raised $2.4 million.

Brownsville, Texas is getting close to joining 18 other cities in Texas in passing a law regulating payday and auto title lenders, city officials report.

Citigroup, the third-largest U.S. bank by assets, will pay roughly $7 billion in fines and consumer relief to settle an investigation into risky subprime mortgages and resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.

The ATM maker and bank technology provider Diebold has named Sal Mahbouba as vice president of global services.

In Pennsylvania, Montgomery County officials report they have collected more than $1.2 million in just 10 months in delinquent court fees and fines dating to 1986.

More small banks are engaging on social media and are finding ways to highlight their community involvement, promote their personalities and better connect with customers.

Doral Financial (DRL) in San Juan, Puerto Rico, has agreed to sell roughly $825 million of assets to Abbey Finance Holdings PR.

Independence Bancshares (IEBS) in Greenville, S.C., will need to raise more capital to fund its development of new payments platforms.

The Consumer Financial Protection Bureau is concerned that some mortgage brokers may be shifting to the "mini-correspondent" lender model under the mistaken belief that identifying themselves as such will automatically exempt them from consumer protection rules affecting broker compensation.

A recent report from the Center for Responsible Lending finds that debt settlement companies frequently fail to settle the bulk of their clients’ debts, leaving them in even weaker financial positions.

Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., and its Berkshire Bank have changed charters.

Consumer spending slowed in June, but remained strong in several sectors, according to First Data Corp., a global payment technology and services firm.

The ATM maker and bank technology provider Diebold has named Sal Mahbouba as vice president of global services.

First Bancshares (FBMS) in Hattiesburg, Miss., has redeemed preferred stock BCB Holding in Mobile, Ala., issued to the Treasury Department under the Troubled Asset Relief Program.

Northwest Bank in Boise, Idaho, has agreed to buy Regal Financial Bank in Seattle.

Big banks stand to lose hordes of young and dissatisfied customers to digital banking startups and tech behemoths like Google, Apple and Amazon. Community banks, on the other hand, have a more loyal base.

Citigroup Inc., the third-biggest U.S. bank, said second-quarter profit tumbled 96 percent on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.