Community Bank of Bergen County in Maywood, N.J., has sold a $3.2 million portfolio of nonperforming loans.

Ally Financial said Tuesday that it has settled all claims with its subprime mortgage unit Residential Capital and between all third parties and ResCap excluding securities claims brought by the Federal Housing Finance Agency and the Federal Deposit Insurance Corp.

Lender Processing Services (LPS) has agreed to pay $14 million to settle claims the company deceived investors about its business practices.

Prepaid cards have been at the heart of several data breaches in recent years because their traits can make them easier for fraudsters to exploit.

Iberiabank Corp. in Lafayette, La., has named a new chief credit officer.

Wells Fargo and insurer QBE have agreed to pay $19.3 million to settle claims that they overcharged homeowners in Florida on lender-placed insurance policies.

The bill would replace the misleading risk-based capital system with a straightforward way to determine the true health of an institution, in addition to providing incentives for the largest banks to downsize.

Opus Bank in Irvine, Calif., said Tuesday it has formed a unit within its commercial banking division that will lend money to physicians, dentists, veterinarians and ophthalmologists for practice deals, equipment financing and other capital needs.

Quarterly profit at Cascade Bancorp in Bend, Ore., rose 60% thanks to cost cuts and improvements in asset quality.

A court deadline this week and the failure of two of Capitol's banks last week have added to the Lansing, Mich., company's increasingly tense bankruptcy.

The Consumer Financial Protection Bureau's push to encourage private lenders to refinance student loan debt is raising questions about whether the agency is focusing on the right target.

Scott Simon, head of mortgage-backed securities operations at fixed income giant Pacific Investment Management Co., argues on the eve of his retirement that the government-sponsored housing enterprises should continue to play a major role in housing finance.

Nearly everybody knows that paying loans on time can help raise their credit score. But beyond that, a large percentage of Americans know little about their scores, a new survey found.

JPMorgan Chase said it will face enforcement action from federal regulators over its collection practices and add-on products commonly appended to credit cards.

First Merchants in Muncie, Ind., was looking to get closer — but not too close — to the Chicago market when it agreed to buy CFS Bancorp of Munster, Ind.

Financial journalists sometimes refer to M&A bankers as "rainmakers." Do they make it rain, or do they just take credit when it starts raining?

Old Line Bancshares in Bowie, Md., has appointed Mark Semanie as its chief operating officer to help manage its recent growth.

The U.S. government has charged an Illinois man with overstating by hundreds of thousands of dollars the value of collateral he used to secure loans from a bank that received funds through the Troubled Asset Relief Program.

The Chicago-area company has started financing employee stock-ownership plans as a way to eke more business out of commercial clients.

A combination of low yields and loosening terms may be setting banks up for trouble in the event of an economic downturn, one of the nation's top credit ratings agencies said Monday.