Citigroup (NYSE:C) whose shareholders rejected its former leader's pay package, gave new Chief Executive Officer Michael Corbat an $11.5 million compensation deal for 2012.

The $121 billion-asset company based in Birmingham, Ala., said Thursday that Grayson Hall, the company's chief executive, will succeed Earnest Deavenport Jr. as chairman when Davenport retires on May 16.

The acquisition by TSYS of prepaid card company NetSpend means the payment processor will manage a delicate balance between being a vendor to banks and being a consumer-facing company.

The New York credit card company said Thursday that it has added Anne Lauvergeon, a partner at Efficiency Capital, and Samuel Palmisano, the retired former chief executive of IBM (IBM), as directors.

Consumer advocates remain frustrated with servicers for not offering more principal write-downs and loan modifications to help borrowers stay in their homes.

A side deal struck with the three largest mortgage lenders continues to benefit underwater borrowers in the Golden State, according to the agreement's monitor.

Americans racked up less credit card debt in the fourth quarter but more people fell behind on their payments.

KeyCorp's decision to sell Victory Management puzzled some, who asked why jettison a fee-based business and whether it might buy or sell some branches.

Warren Buffett has long been the biggest shareholder of Wells Fargo (WFC), and now the San Francisco company represents the biggest piece of his portfolio.

Total System Services Inc. will begin processing LINK ATM transactions throughout the United Kingdom this year.

Thomas Petro discusses how proactive changes might have kept the Pennsylvania company from failing.

Recreating this industry involves regulation that more effectively aligns the interests of lenders and borrowers, consumer education and outreach and market-driven solutions.

At its annual party, the scandal-buffeted British bank bid goodbye to the "exciting and unpredictable" Year of the Dragon and welcomed in the Year of the Snake.

George Washington is a great role model for kids and might have had second thoughts about today's financial forms, says Frank Keating, the CEO of the American Bankers Association and author of a kids book about the first president.

Citigroup, Bank of America and Wells Fargo hauled in the most medals in Corporate Insight's annual comparison of banks' websites, but smaller players such as KeyBank and Ally Bank also made an impression.

Will the Financial Stability Oversight Council be successful at spotting threats before they cause a financial crisis or will it instead create "regulatory hazard" in the form of a false sense of security?

Monarch Financial (MNRK) in Chesapeake, Va., is getting rid of preferred stock it issued in 2009.

The purchase of NetSpend, which came at a hefty price for TSYS, signals that the prepaid card industry has come into its own.

Short sales continue to dominate relief efforts under the national mortgage settlement, and Californians continue to receive the bulk of the benefits.

A former leader of a Mormon congregation in Connecticut has pleaded guilty to charges he laundered hundreds of thousands of dollars through a bank that received funds from the Troubled Asset Relief Program.