BMO Harris Bank in Chicago has tapped a former SunTrust Banks (STI) executive to help steer its growth in the car-dealer lending business.

Industry observers are advising more community banks with trust-preferred securities to raise capital now before Basel III puts them at odds with regulators.

JPMorgan Chase and the Living Social website teamed up to honor 12 small businesses, including a garment maker for the medical industry.

Broadway Financial's (BYFC) woes continued as the Los Angeles company said that its financial results for 2011 and the first quarter of this year will have to be revised and could no longer be trusted.

PayPal's point of sale mobile payment system combines over half a decade of initiatives — and a few notable setbacks along the way.

Preferred Bank (PFBC) in Los Angeles has added the role of president to the responsibilities of its chief operating officer, Wellington Chen.

Fannie Mae told lenders that it's tightening some of its qualification standards for people buying homes or refinancing loans.

The five largest mortgage servicers are suddenly eager to provide relief to distressed homeowners, but after years refusing to modify loans or reduce principal, they are concerned that borrowers will ignore their solicitations.

Wells Fargo (WFC) said competition in the mortgage market is "essential" and that its control of 1 in 3 U.S. mortgages is the result of doing a better job than rivals.

Megabanks provide useful, all-in-one services to their big business customers, but corporate America has some reservations about them. Here's what bankers and corporate treasurers had to say about their complex relationships and whether big banks are necessary.

First PacTrust Bancorp (BANC) has landed another deal and a co-chief executive.

Qualified nonbanks should be able to issue credit cards. This has only rarely been possible up to now – a situation that has warped the industry's structure, giving banks undeserved dominance.

PayPal will have its payments accepted throughout Discover's network, in a deal that increases the threat to traditional payments giants Visa and MasterCard.

Canada's banks, the most stable in the world, will probably post the lowest profit growth in two quarters as consumer lending eases and spending subsides ahead of a potential housing slowdown.

NMI Holdings, which raised $550 million in April to open a mortgage insurer, faces a lawsuit from an Arizona regulator, highlighting the role of state watchdogs as the industry seeks to recover from years of losses.

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The private-equity firm Lovell Minnick Partners has invested $50 million in TriState Capital Holdings in Pittsburgh.

Bank of America has ceased selling all payment protection plans to credit card customers, killing off a business line targeted by regulators.

A Newport Beach, Calif., firm that buys problem loans from banks has struck its second deal in less than a week.

Dealmakers have been pushing bankruptcy recapitalizations for a few years. The time may now be ripe with credit quality improving while debt loads linger.