Wintrust Financial Corp. in Rosemont, Ill., reported a rise in second-quarter profit thanks to higher fee income and lower interest costs.

The Federal Trade Commission told a U.S. Senate subcommittee Tuesday that it is cracking down on illegal debt collection practices through a program of vigorous law enforcement, education and public outreach, and research and policy initiatives.

The CEO of Taupa Lithuanian CU, who is being investigated in this week's failure of the $24 million credit union, is refusing to surrender to police, prompting a standoff at his home here last night into this morning.

Sen. Elizabeth Warren, architect and founder of the Consumer Financial Protection Bureau, says agency is "the law of the land, and … here to stay."

Companies that provide on-demand, cross-account control and recommendations are best positioned to serve evolving consumer behavior. Banks that don’t get ahead of this shift could be relegated to the role of back-end infrastructure provider.

Investment gains helped M&T Bank Corp. in Buffalo, N.Y., record a spike in quarterly profits.

Bank of America (BAC) said profit rose 63% in the second quarter, beating analysts' estimates as the company kept expenses in check.

U.S. Bancorp (USB) said second-quarter profit rose 4.9% as the firm cut expenses and set aside less for soured loans.

PNC Financial Services (PNC) said second-quarter profit more than doubled, beating analysts' estimates, as fee revenue surged and the firm set aside less for bad loans.

Profit rose 37% at Pinnacle Financial Partners (PNFP) in Nashville, Tenn., on the strength of its lending and fee income.

Spain's Banco Santander abruptly replaced the chief executive of its U.S. operations Tuesday.

Robert Wahlman will become CFO of the $3.8 billion-asset company and its bank on Aug. 13, Customers announced Tuesday.

Florida Community Bank in Naples is partnering with Raymond James Financial (RJF) to offer its customers asset management services.

The Senate's approval of Richard Cordray's nomination to run the Consumer Financial Protection Bureau does more than give the agency a permanent director: it also removes Republicans' biggest bargaining chip in their longstanding push to force key structural changes at the agency.

Opus Bank in Irvine, Calif., has formed a commercial real estate banking division made up of Opus' income-property banking division and its newly formed structured finance unit.

Competition for large corporate loans is as intense as ever and, until it eases, the Dallas bank is content to let its middle-market lending drive profits.

Herb Allison, who died Sunday, turned out to have far more in common with his critics than seemed possible during the heat of the financial crisis.

Notwithstanding recent media criticism, there is little doubt that these products offer a better alternative for unbanked and underbanked consumers who would otherwise use a cash-based system to manage their finances.

Prepaid card and technology provider InComm has launched an in-store digital sales program, allowing consumers to buy digital gift cards and other virtual items alongside physical ones at brick-and-mortar merchant locations.

Capital One Financial Corp. (COF) is in talks to take about 250,000 square feet of offices at the UBS Building on Manhattan's Park Avenue.