Unable to secure additional funding, PerkStreet Financial announced Monday that it is closing its operations on Sept. 26. The Boston startup has been offering people checking accounts that reward customers for their debit card swipes.

The cost of doing business with the Federal Housing Administration could skyrocket if the agency adopts a new method for calculating lenders' liability for poorly underwritten loans that default.

Senate Majority Leader Harry Reid's surprise criticism of President Obama's plan to unwind Fannie Mae and Freddie Mac has upset the conventional wisdom surrounding housing finance reform.

The New York State Department of Financial Services issued subpoenas to 22 emerging payments players, including many that handle the digital currency Bitcoin, demonstrating that new payments models have not yet found their place in the eyes of the law.

Faced with a litany of legal and regulatory woes, JPMorgan Chase has vowed to minimize wrongdoing and tighten internal controls. But with financial incentives unchanged and regulators on the warpath, virtuous talk may not be enough to prevent more troubles.

Demand for mortgage loans is on the rise as delinquencies and foreclosures continue to decline, according to two recent surveys from the Mortgage Bankers Association.

Cascade Bancorp (CACB) in Bend, Ore., reported a surge in quarterly earnings because of a large tax-related gain.

Community banks keep getting more comfortable with commercial real estate loans, including relatively riskier types, despite memories of bad CRE loans from the economic crisis.

Many community bankers are looking to expand into new types of activity to bolster their results in a time of sluggish loan demand. However, venturing into everything from wealth management to credit cards to cybersecurity poses formidable risks as well as rewards. American Banker staffers discuss the trend.

Canadian Imperial Bank of Commerce is in talks to sell about half its Aerogold credit-card portfolio to Toronto-Dominion Bank, the lender that's taking over as the main card partner for Aimia's rewards program.

John Koelmel will receive a severance package from First Niagara Financial Group (FNFG) that is 38% smaller than previous reports had indicated.

The Office of the Comptroller of Currency has terminated a written agreement with Coastal Banking in Beaufort, S.C.

United Community Financial in Youngstown, Ohio, blamed its second-quarter loss on an accounting matter.

A steady stream of subpoenas, crackdowns and settlements involving big banks indicates that regulators are continuing to work through a big backlog of cases related to the housing downturn and financial crisis. Other investigations involve brand new issues, like payday lending and debt collection. One certainty: For banks litigation risk keeps on rising.

New York’s banking regulator issued subpoenoas to about two dozen companies associated with bitcoin as it looks into the virtual-currency industry, the Wall Street Journal reported, citing people familiar with the matter.

GLOVERSVILLE, N.Y. – Fulton County FCU will open a branch inside the new Walmart Supercenter Wednesday.

Bank of Wausau was shut down by Wisconsin regulators Friday.

Roma Financial (ROMA) in Robbinsville, N.J., swung to a loss in the second quarter thanks to a check-kiting scheme.

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