Pioneer Credit Recovery has been ranked No. 1 by the U.S. Department of the Treasury Bureau of the Fiscal Service for the third quarter ended Sept. 30 on a contract to recover past-due accounts owed to government agencies.

Quarterly profit slid at First Merchants Corp (FRME) in Muncie, Ind., as interest income and revenue from loan sales fell.

Customers Bancorp (CUBI) in Wyomissing, Pa., compensated for reduced income from its warehouse mortgage business with growth in other lending categories last quarter.

Regulatory concerns dominated the dialogue at a recent debt collections conference in Chicago. Industry practitioners offered a recipe for operating under strict new oversight and for complying with a raft of new regulations. American Banker editors discuss.

Regulators unveiled a proposal Thursday that would institute tough new liquidity requirements on U.S. financial institutions, acknowledging that their plan is harsher than a global framework suggested by international supervisors.

The Consumer Financial Protection Bureau is suing a Kentucky law firm on allegations that it received illegal kickbacks from certain charges on real estate settlements.

Citigroup is selling mortgage-servicing rights on $63 billion of loans, its largest potential sale of this type since the 2008 financial crisis, according to two people briefed on the offer.

Chad Fuller and Victoria Holstein-Childress have joined the Atlanta law firm to help defend banks against lawsuits and government probes.

Who else but the steely Jedi master to pitch Capital One's new cash rewards card as straightforward and gimmick-free.

Community bankers have become increasingly concerned about the government-sponsored enterprise as it has grown and expanded its client base.

Old Second Bancorp (OSBC) in Aurora, Ill., joined the growing list of banks benefiting from the recapture of its deferred-tax asset valuation allowance.

Home purchases by institutional buyers reached a record high in September and all-cash buyers accounted for almost half of sales as investors responded to rising demand from renters.

The Dallas bank added Charles Hyle as a director and audit panel member because of his background in risk management and credit oversight at KeyCorp and Barclays.

Virginia Commerce Bancshares (VCBI) in Arlington recorded a slight dip in quarterly profit as it waited for final approval of its merger with United Bancshares (UBSI).

First Mid-Illinois Bancshares (FMBH) in Mattoon has promoted the president of its bank to replace its retiring chairman and chief executive.

Morgan Stanley and Bank of America, owners of the world's largest brokerages, say the days of paying big bonuses to lure each other's brokers and keep their own in place may be ending.

United Community Banks (UCBI) in Blairsville, Ga., beat its third-quarter earnings estimates as costs from bad loans fell.

Bank of America is cutting about 1,300 more jobs in its mortgage division as the firm adjusts to lower demand, said two people with direct knowledge of the plans.

The defendants have collected and processed millions of dollars in payment for phantom debts, according to the Federal Trade Commission. Their practices generated almost 3,000 complaints to the FTC’s Consumer Sentinel.

Valley National Bancorp's (VLY) profit fell by nearly a third in the third quarter as the Wayne, N.J.-based company saw a substantial decrease in net gains on sales of residential mortgages.