Lawyer Craig Cannon, an expert in electronic recordkeeping for banks, is leaving B of A for Kilpatrick Townsend & Stockton. That his specialty even exists says a lot about the litigious side of financial services these days.

If there is any chance a Basel Committee standard could apply to community banks, U.S. regulators need to make every effort to consult with these institutions before agreeing to it.

The $1.7 billion-asset company said Thursday that it closed two branches last month, and that another four branches will close by next March.

Freddie Mac, the U.S.-owned mortgage financier, will return $30.4 billion to the Treasury Department, after reporting a third-quarter profit that boosted its total payments above the amount the company has received in aid following the credit crisis.

The Consumer Financial Protection Bureau said Thursday it was charging Castle & Cooke Mortgage $13 million in penalties for allegedly pushing consumers into costlier mortgages in order to give kickbacks to loan officers.

As indirect auto lenders brace for regulatory enforcement actions, a group of Senators are raising concerns over the Consumer Financial Protection Bureau's efforts to overhaul the car financing industry. American Banker reporters explain the implications of the clash between Congress and the CFPB.

New regulations and the end of the refi boom are forcing banks to seek new sources of noninterest income. Some are taking a hard look at offering services they can charge for.

The Federal Reserve Board has announced the termination of regulatory orders with four lenders Thursday: FNB United (now named CommunityOne Bancorp), Highland Bancshares, National Consumer Cooperative Bank and NCB Financial.

Stephen Carpenter will step down as CU Bancorp's vice chairman and become a director emeritus at the end of the year, the $1.3 billion-asset company said Thursday.

Southern Missouri Bancorp (SMBC) in Poplar Bluff has agreed to buy Citizens State Bankshares of Bald Knob in Arkansas.

The share of U.S. mortgages that are seriously delinquent fell to a five-year low as job gains help borrowers keep up on payments while rising home prices enable others to sell.

U.S. Bank (USB) will have to face a lawsuit alleging that it helped a Ponzi schemer steal hundreds of millions from his clients, a judge ruled Tuesday.

International Bancshares (IBOC) in Laredo, Texas, reported a rise in quarterly profit as its net interest income ticked up.

Banks that best leverage customer loyalty are accelerating the digital transformation, catering to select demographics and actively selling products to new and existing customers.

Hudson Valley Holding (HVB) in Yonkers, N.Y., is launching an asset-based lending business.

Fannie Mae will pay the Treasury Department $8.6 billion after reporting a seventh consecutive quarterly profit on continued recovery in the housing market.

The executive carousel keeps turning among Korean-American banks. BBCN Bancorp in Los Angeles has hired Daniel Kim as its chief planning officer. Kim is CFO and acting president at Saehan Bancorp, which is in the process of selling itself.

Some banks have been successful in serving a client base that ranges from mom-and-pop operations to multinational conglomerates, but the most profitable and efficient ones tend to have more targeted strategies, according to a new report from McKinsey & Co.

The former chief executive and chairman of Bank of the Commonwealth in Norfolk, Va., has been sentenced to 23 years in federal prison for spearheading a fraud scheme that led to the failure of the bank.

Bank of America Corp. is negotiating with the Consumer Financial Protection Bureau to settle allegations it deceived customers in the sales of credit-card add-on products.