The Office of the Comptroller of the Currency shuttered the $3.1 billion-asset First National Bank in Edinburg, Texas, and it was sold by the Federal Deposit Insurance Corp. in a deal estimated to cost $637 million to the Deposit Insurance Fund.

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Provident New York Bancorp (PBNY) and Sterling Bancorp (STL) have reached a settlement with shareholders who alleged that Sterling's board violated its fiduciary duty and failed to disclose crucial information about the two companies' pending merger.

The Consumer Financial Protection Bureau made additional changes to its mortgage rules on Friday in an ongoing effort to respond to lender concerns, but refused to yield to pleas that it delay the January implementation date.

Keene Turner will succeed Frank Sanfilippo, who will become the $3 billion-asset company's chief operating officer, according to a Friday press release.

GE's consumer finance business has benefited from its parent firm's funding cost advantages and deep ties to U.S. retailers.

The vast majority of Americans believe that government policies favor big banks over the poor and middle class, according to a new survey from the Pew Research Center.

Two companies have settled charges that they used prerecorded calls to trick consumers into deceptive credit card interest rate reduction scams.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

More than 770,000 U.S. homes were in foreclosure at the close of the second quarter ended June 30, according to the latest data provided by RealtyTrac.

Old National is trying to shed assets ahead of an acquisition in hopes of staying below $10 billion in assets, a level that ensures increased regulation.

Economic shifts are driving community banks back into the mortgage-purchase market, but the very same forces are squelching demand. So small banks will have to start buying established mortgage originators — if PE firms don't buy the same targets first.

Disney World's efforts to test its payments wristband involve patience, investment in technology and a lot of marketing. PaymentsSource editor Daniel Wolfe recently visited the amusement park and has some lessons for banks and other payments companies that want to succeed in similar innovation.

An Indiana man was sentenced to spend five years in federal prison and pay almost $7 million in restitution Thursday after pleading guilty to defrauding local banks of over $10 million.

Zions Bancorp. in Salt Lake City has raised $87.9 million in a sale of subordinated notes.

The Federal Deposit Insurance Corp. has lifted a consent order with Seattle Bank, which recently added $10 million of capital.

Baker Boyer Bank in Walla Walla, Wash., has promoted its wealth management division manager to become president and chief investment officer.

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the comments sections of AmericanBanker.com articles.

Chemical Financial (CHFC) in Midland, Mich., could raise up to $57.5 million through its recently announced stock offering, according to pricing information released Friday.

Midland States Bancorp in Effingham, Ill., has agreed to buy Heartland Bank in St. Louis from Love Savings Holding Co.