Two of the largest consumer debt buyers agreed to drop lawsuits against borrowers and pay fines to settle allegations they violated a state's law in pursuing debtors.

JPMorgan Chase (JPM) announced Wednesday that it is joining with the Small Business Administration to serve as the presenting sponsor of the SBA's weeklong National Small Business Week celebration.

Bank of America CEO Brian Moynihan and Chairman Charles Holliday pledged to hold the right people responsible for the $4 billion accounting error in its capital plan that hurt shareholders — but only after they carefully study what went wrong.

Mortgage debt held by the elderly has soared over the past decade, driven in part by the foreclosure crisis, the Consumer Financial Protection Bureau said in a report Wednesday.

Xenith Bankshares (XBKS) in Richmond, Va., has named Thomas Snead Jr. chairman.

Industry boosters say the sky's the limit, as a flood of capital enables the rapid growth of peer-to-peer lending. But some skeptics are urging caution.

An Indianapolis credit union will take a $26 million loss on default-prone loans to ITT Technical Institute students. The college's parent company was recently sued by the Consumer Financial Protection Bureau for predatory lending practices.

The House of Representatives on Tuesday approved a bill that aims to make it easier for Somali-Americans and other immigrants to send money to friends and relatives in their home countries.

Higher regulatory and compliance costs may push more small banks to sell themselves or merge with larger institutions. But so far, community bank consolidation rates are following historical patterns.

The Idaho Supreme Court unanimously ruled recently that medical collection agency Medical Recovery Services cannot ask for attorney's fee that are higher than what patients paid for their care.

Collection agency Transworld Systems will take over collection services for an Indiana city, where officials hope to recoup part of several hundred thousand dollars in liens.

While Jamie Dimon and Warren Buffett express doubts about bitcoin, executives running the financial industry's back offices are looking at mimicking the virtual currency's methods of moving money quickly and cheaply.

Lenders everywhere are looking for signs of heightened loan demand, and a San Diego bank says it has found a strong one.

Online apparel retailer Cory Vines positions itself as an alternative to much larger chains, so deciding to accept Bitcoin was a logical step. It also helps that its customers want to pay with the digital currency.

Simmons First National (SFNC) in Pine Bluff, Ark., has agreed to buy Community First Bancshares in Union City, Tenn.

Kinderhook Bank in New York has raised $7.4 million after selling preferred stock.

A Michigan state court judge has reportedly postponed a trial in which former customers of Lotus Bancorp in Novi, Mich., had filed a lawsuit against the bank's executives for sending racist emails.

CertusBank in Greenville, S.C., has hired a new internal auditor and promoted eight other executives as it reorganizes management weeks after the ouster of its top executives.

WASHINGTON — The Consumer Financial Protection Bureau issued a proposal Tuesday that would allow financial institutions to post their privacy notices online rather than by paper delivery under certain circumstances.

A bill scheduled for a House vote Tuesday afternoon, designed to help Somali-Americans send money home, highlights the longstanding tension between anti-money laundering regulations and global financial inclusion.