Some of the nation's biggest lenders said that savings from firing consultants doing foreclosure reviews would largely cancel out the cost of direct compensation to borrowers.

Cathay General Bancorp (CATY) in Los Angeles reported earnings that were below expectations after expenses rose.

The nation's second biggest bank by assets said Wednesday that it has named Arnold Donald, a former chief executive of Merisant, and Lionel Nowell 3rd, a former treasurer at PepsiCo, directors.

Citigroup is widening regional responsibilities for one of its business bankers. The company's commercial banking arm said Wednesday it has named Shawn McGowen president of the unit's central region.

General Electric (GE) has agreed to settle a lawsuit charging it with wrongdoing in the sale of securities backed by residential mortgages.

A lawsuit by the state's Democratic attorney general alleges that the oft-criticized mortgage assignment system deprived Kentucky of recording fees and shrouded property records in secrecy.

Banner Corp. (BANR) in Walla Walla, Wash., reported higher than expected earnings because of a surge in mortgage-banking income and service fees.

Loans and fees lifted Community National Bank in Great Neck, N.Y., in the fourth quarter.

Following bankers' positive reaction to the bureau's QM regulation, industry observers are optimistic about the prospects for added flexibility in the QRM rules that will follow.

Two dozen former mutual thrifts, including OmniAmerican, have reached or are nearing the end of a three-year ban from selling themselves. Let the M&A chatter begin.

Flushing Financial in Lake Success, N.Y., is set to convert to a bank.

Conversion activity has declined in recent years, though some observers believe mutual thrifts could find market conditions more accommodating in coming months.

Univest (UVSP) in Souderton, Pa., reported lower quarterly earnings because of higher expenses.

Political denial and cover-up are in the CFPB's DNA. The agency was predestined to be overbearing, which will only hurt borrowers in the long run.

A.W. "Tom" Clausen, who led San Francisco-based Bank of America before and after serving as president of the World Bank, has died. He was 89.

Trustmark (TRMK) in Jackson, Miss., posted double-digit quarterly earnings growth because of increased mortgage-banking activity and higher fee income.

Better credit quality helped Bank of Commerce (BONC) in Charlotte, N.C., narrow its losses.

The No. 2 home lender will market the government's Home Affordable Refinancing Program to hundreds of thousands of customers acquired from MetLife. To speed closings, it's licensing Quicken Loans' technology.

BV Financial (BVFL) in Baltimore added profits in the company's fiscal second quarter.

Citigroup's private wealth management division has agreed to sell a trust bank subsidiary to Reliance Financial in Atlanta.