Ally Financial and at its banking subsidiary have completed the renewal of $11.5 billion in secured credit facilities intended to fund its automobile lending and leasing in the United States.

WASHINGTON — Senate Banking Committee leaders are proposing to capitalize a new mortgage cooperative with a government loan to ensure small and even regional lenders can sell their loans for cash.

BankUnited (BKU) in Miami Lakes, Fla., has hired a former insurance agency executive to oversee its retail operations in Florida.

Commercial and multifamily mortgage debt outstanding reached a record high during the fourth quarter, erasing the declines caused by the recession.

Comptroller of the Currency Thomas Curry signals regulators are considering more Community Reinvestment Act changes as advocates say the progress to date is too timid.

Jefferies will pay $25 million to settle charges that it abetted mortgage-backed-securities fraud.

The Consumer Financial Protection Bureau plans to address the growing problem of vacant and abandoned properties that banks and mortgage servicers have walked away from to avoid maintaining the homes.

The Florida company's initial backers made a lot of money from a 2009 government-backed deal. Still, BankUnited's PE backers say the final sale of their stake in the resurrected lender is bittersweet.

More and more consumers are deciding where to bank based on how enamored they are with the bank's mobile offerings, according to a new report from AlixPartners.

The Consumer Financial Protection Bureau and Federal Trade Commission jointly filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit, arguing that a federal district court wrongly dismissed a consumer’s class action complaint against collection agency Northland Group Inc.

Fiserv Inc., which operates the Accel debit network, has agreed to make MasterCard's common application identifier technology available for routing EMV debit transactions.

1st Capital Bank (FISB) in Monterey, Calif., has hired Michael Winiarski as its new chief financial officer.

Financial firms should consider this type of rebrand if they are facing reputational issues, find their existing name is too limiting or want to convey a new image following a merger or acquisition.

The Federal Trade Commission settled a complaint against a Massachusetts-based home security company that illegally called millions of consumers on the FTC’s National Do Not Call Registry to pitch home security systems.

The Federal Reserve Board has lifted enforcement actions against four financial companies.

The Office of the Comptroller of the Currency has lifted a regulatory enforcement action against First Security Group (FSGI) unit FSGBank.

In 30 states and the District of Columbia, attorneys general are urging the Consumer Financial Protection Bureau to adopt new debt collection rules that will "better protect consumers and military service members."

A New Jersey appeals court ruled that debt buyers do not have to provide notice to consumers when debts are purchased and assigned but must prove they own the debt and the amount before they can collect. Further, electronic business records are sufficient for proof.

Innovation requires the ability to tinker, test, break and repeat. Strategy and its close derivatives increase and delay the cost of failure. Business cases, focus groups, market analysis and roadshows, among other things, divert resources and defer action.

Allstate has elected Siddharth Mehta, former CEO at TransUnion, to its board of directors.