Two shareholders have filed a lawsuit arguing that the prepaid company withheld material information about the competitive climate and the potential impact on its operations.

FDIC's Quarterly Banking Profile shows broad improvements in the number of institutions making more loans. But with rock-bottom interest rates squeezing margins, banks yet again looked toward reduced loss provisions to drive earnings.

Citigroup (NYSE: C) has agreed to pay nearly $25 million to settle claims that it misled investors about the risk of certain mortgage-backed securities, according to Reuters.

Isis, the mobile-payment joint venture backed by AT&T, Verizon and T-Mobile, is on track for a debut in September, following months of delays and a change in strategy last year.

The Office of the Comptroller of the Currency has released PVF Capital's (PVFC) bank unit from an enforcement order after the Solon, Ohio, bank met capital requirements.

Hampton Roads Bankshares finds itself between a rock and a hard place. As a Tarp participant, it has refused to pay severance to several former executives. Several of those officers, including former CEO Jack Gibson, filed lawsuits asserting that their employment contracts preempt the Tarp prohibition.

The Bank of Birmingham in Michigan has joined an increasing group of bankers delving into equipment financing, saying it will offer financing on "most equipment types" such as manufacturing and transportation.

Naugatuck Valley Financial (NVSL) in Connecticut is expecting to record its third consecutive quarterly loss after writing down roughly $5.3 million on five loans during the current quarter.

BB&T Insurance Services in Raleigh, N.C., has added supplemental unemployment insurance to its online product offerings.

Peter Humphrey is immediately retiring from the bank its holding company to spend more time with family and pursue other interests.

A breakdown of M&A announcements in the financial services industry for the week ended August 25.

Issuers should develop strategies to make their account the primary one in a consumer's existing wallet and on new payment tools offered by companies like PayPal or Square.

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BB&T (BBT) will close 21 branches as it works to ingrate the recently acquired BankAtlantic into its operations.

S&T Bank in Indiana, Pa., has expanded its commercial loan business into northeast Ohio by opening an office in Akron.

The Paramus, N.J., thrift decided to sell itself to M&T for a relatively low price rather than keep trying to overcome its reliance on low interest rates. That was bad news for the countless small banks attempting similar reboots.

The Office of the Comptroller of the Currency has issued an enforcement order against Citizens First National Bank that requires the Princeton, Ill., bank to become adequately capitalized or sell itself.

Most of the program's participants are increasing business loans, though some are having to reduce lending rates to book the best loans.

Existing customers are generally praising Square's new flat monthly fee for processing card transactions, but Square's challenge will be winning over business owners who are on the fence about its services.