The Federal Trade Commission testified before Congress Tuesday on the agency’s ongoing efforts to promote data security, and reiterated its support for enactment of a strong federal data security and breach notification law.

The Federal Reserve banks signaled Tuesday that they are pushing ahead with their efforts to encourage the construction of a faster nationwide payment system.

House Republican leaders squashed an attempt Tuesday by Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, to force a vote on a Senate-passed bill reforming flood insurance.

Morgan Stanley (MS) agreed to pay $1.25 billion to settle a U.S. regulator's claims that the investment bank sold faulty mortgage-backed securities to Fannie Mae and Freddie Mac.

Lawmakers kicked off a week of investigations into recent data breaches on Monday and Tuesday, grilling bankers, retailers, government officials and consumer advocates about why the breaches occurred and what can be done to prevent future incidents.

Commercial and multifamily mortgage lenders are vulnerable to the strict regulatory climate faced by their colleagues in home finance, Mortgage Bankers Association President David Stevens says.

Eagle Bancorp Montana (EBMT) in Helena, Mont., has named Laura Clark as its chief financial officer.

Add PrivateBancorp to the list of financial institutions that have managed to grow commercial loans organically and are eyeing acquisitions that would improve liquidity in a rising-rate environment.

A team assembled by ex-regulator Raj Date is preparing to launch a plastic card for Americans who don't qualify for mainstream credit. It is thought to be the first entrant into the subprime card market in several years.

Anchor Bancorp (ANCB) in Lacey, Wash., is facing pressure from an activist investor to sell itself.

Community banks reported increased lending in the fourth quarter. Experts believe loans could continue to grow this year, but at a marginal rate.

Westfield Bank in Massachusetts plans to offer its customers wealth management and insurance services through a new partnership with Charter Oak Insurance and Financial Services.

The Treasury Department expects to receive $20.6 million in proceeds from its latest auction of Troubled Asset Relief Program shares.

M&T Bank (MTB) in Buffalo, N.Y., reportedly plans to close at least 10 branches in its home state.

Debt buyer Portfolio Recovery Associates Inc., based in Norfolk, Va. and operating in the U.S. and U.K., announced Tuesday the acquisition of certain operating assets from Pamplona Capital Management LLP.

Simmons First (SFNC) in Pine Bluff, Ark., is reportedly in talks to buy Delta Trust & Banking in Little Rock, Ark.

In an increasingly commoditized industry, our people can be one of the few true differentiators left. But the model that has them forever sitting in buildings that fewer and fewer people utilize makes less strategic sense each year.

The Federal Deposit Insurance Corp. took action against eight companies and lifted orders against eleven banks in December, according to its latest monthly roundup of enforcement actions.

Central Valley Community Bancorp (CVCY) in Fresno, Calif., has named James Ford president of its bank.