Home loan servicers are focusing more on short sales than on loan mods or refis, but they've made significant progress in implementing the terms of a $25 billion settlement with the government, according to a report from independent monitor Joseph Smith.

Demand for distressed properties is driving up prices for the first time in two years as investors from Blackstone Group to Colony Capital chase shrinking inventory.

COLUMBIA, S.C. – Carolina Collegiate FCU yesterday opened a student-run branch on the University of South Carolina campus in the Russell House university union center.

In two lengthy interviews, John Walsh, the acting head of the OCC for nearly two years, offers his candid views on a range of subjects, including the FSOC's effectiveness and the reform idea he believes is "something worth dying for."

It took just three months for Orrstown Financial Services (ORRF) to find a new chief financial officer, but the move could not have come too soon.

NHB Holdings in Cottonwood Heights, Utah, has raised $7.6 million in fresh capital.

It may be hard for banks like Toronto-Dominion and New York Community to resist trying to outbid M&T for Hudson City, which agree to sell itself for a relatively low-priced offer.

Bank of Nova Scotia agreed to buy ING Bank of Canada for $3.16 billion, adding more than $30 billion in retail deposits to its balance sheet and 1.8 million customers.

Regulators have told Randolph Bank & Trust in Asheboro, N.C., that it is forbidden from paying scheduled dividends — including a dividend to the U.S. Treasury Department on its Troubled Asset Relief Program investment — until further notice.

Gulf Coast bankers say they were better prepared to handle the onslaught of Hurricane Isaac, which slammed into Louisiana on Wednesday. Bankers are better prepared seven years after Katrina battered the Gulf Coast, learning how to run their banks remotely and keeping plenty of cash on hand.

Few banks with trust-preferred debt would fall below the Basel III capital minimum without the securities. Many are using the phase-out as an opportunity to retire the high-cost funding.

The real-estate industry is using this week's Republican convention to flex its political muscles, defending the tax deduction for mortgage interest and calling for changes to the qualified residential mortgage exception.

The central bank's most recent Beige Book finds disparities both between and within regional districts about the appetite for new loans.

The Treasury Department has released an infographic outlining how the financial reform legislation helps to strengthen Main Street banks. Do you agree Dodd-Frank creates a level playing field for financial institutions?

Citigroup agreed Wednesday to pay $590 million to settle a shareholder lawsuit over its disclosures about subprime mortgage exposure. The sum is large but in keeping with what some banks have paid to put the crisis years behind them.

A preliminary report from the independent monitor shows that the five servicers in the $25 billion mortgage-settlement pact are so far focusing more on short sales than on loan mods or refis.

The new employment agreement with veteran banker John Kanas comes just weeks after reports surfaced that the Florida company was again weighing offers to sell.

Citigroup agreed to pay $590 million in cash to settle a lawsuit by investors alleging the bank hid risks tied to toxic assets, the plaintiffs said.

Cordia Bancorp will invest $3 million to consolidate control of Bank of Virginia in a move Jack Zoeller, Cordia's CEO, says will position the company to make acquisitions and raise capital.

Bank of America (BAC) and Fifth Third (FITB) have joined a growing number of large banks that have simplified disclosure notices on retail checking accounts.