A group of First National Community Bancorp's (FNCB) current and former directors have agreed to pay $5 million to settle a shareholder lawsuit claiming that they failed to properly oversee risky practices.

There are now less than 6,900 banks in the United States, the smallest number of financial companies since the Great Depression — and bankers expect the industry to contract even more in coming years. American Banker editors discuss the stakes for community banks and why the country still needs thousands of small banks.

As consumer groups turn their attention to smaller institutions, they bring lending disparities to regulators’ attention. The regulators seem to take these issues more seriously than during bank megamergers’ heyday.

African Americans encounter unique financial strain and are harmed more than other groups from their credit card debt, according to a report from Demos and the NAACP.

Kenneth Palattao, formerly of the Mayo Clinic, has joined The Private Client Reserve of U.S. Bank. The wealth management unit's customers include health care professionals and businesses.

Toronto-Dominion Bank (TD), Canada's second-largest lender, said fiscal fourth-quarter profit rose 1.3 percent as domestic retail banking and wealth-management earnings increased.

A decision by Popular (BPOP) in San Juan, Puerto Rico, to reduce its stake in a former technology subsidiary could help it exit the Troubled Asset Relief Program.

Royal Bank of Canada said Chief Executive Officer Gordon Nixon will retire next year as the nation's largest lender reported fiscal fourth-quarter profit that beat analysts' estimates on gains in investment banking and consumer lending.

The Fed's vision of a vastly improved payments system within 10 years is getting a chilly reception from a group representing the nation's largest banks.

Louisiana's new Office of Debt Recovery will open in January and have the authority to revoke licenses from consumers, seize bank accounts and take tax refunds to pay down delinquent accounts.

While Bitcoin sometimes gets a bad rap with law enforcement officials, the police chief of Vicco, Ky. will begin getting his salary in the digital currency.

United Community Financial (UCFC) in Youngstown, Ohio, has been released from a memorandum of understanding with the Federal Deposit Insurance Corp. and state regulators.

WSFS Financial received more than 1,300 submissions to its annual pet photo contest, and donated roughly $2,500 to the Delaware Humane Association.

The Securities and Exchange Commission has fined Fifth Third Bancorp (FITB) for misclassifying troubled loans during the housing crisis.

CO-OP Financial Services is upgrading its Sprig digital wallet to allow broader person-to-person payments, and is also adding mobile credit and debit card control and alert features.

TCF Financial (TCB) in Wayzata, Minn., has hired a former executive from State Farm Bank to become its chief credit officer.

The $890 million-asset company exceeded its goal of raising $15 million after it received investments from local shareholders in addition to institutional investors, according to a press release Wednesday.

The $339 million-asset bank said in a press release Wednesday that it chose the new name to distinguish itself from other businesses that also use the word "Columbia."

General Motors is planning to sell a 9.9 percent stake in Ally Financial Inc., the auto lender majority owned by U.S. taxpayers, according to a person with knowledge of the transaction.

National student loan debt is on the rise, but the size of college graduates' debt loads varies greatly by state and geographical region, according to a new report from The Institute for College Access & Success.