Bank of America (BAC) swung to a profit in the second quarter largely by slashing expenses and releasing reserves, but the nation's second-largest bank remains hobbled by continued repurchase requests on soured loans.

SMITHFIELD, R.I. — Navigant CU announced this afternoon it merging troubled Columbus CU, a $68 million in nearby Warren, R.I., with two branches.

Comerica Inc. customers may sue the bank as a class over claims that banks wrongly charged overdraft fees, a federal judge ruled.

The bank has bought back its card portfolio and now it is rolling out six new credit cards designed to appeal to its existing customers.

The Federal Reserve Board has entered into a written agreement with TCB Holding that requires the Woodlands, Texas, company to serve as a source of strength for its bank.

The price tags are high at many of the community banks that are for sale, and their deposits are unappealing, says James Rohr, the chairman and CEO of the Pittsburgh bank.

Taylor Capital Group's (TAYC) second-quarter earnings surged as mortgage banking revenue increased.

PacWest Bancorp (PACW) posted a 21% jump in second quarter earnings from a year earlier as significant expense reductions and acquisitions took hold.

Flagstar Bancorp (FBC) in Troy, Mich., reported that it turned a profit for the first time in four years as noninterest income rose.

Consumer bureau, working in conjunction with OCC, orders Capital One to pay $210 million for deceptive credit-card marketing practices.

Profits at First Republic Bank (FRC) fell slightly in the second quarter as the San Francisco company took a one-time charge related to a stock repurchase and added more staff and locations to support its growth.

The Buffalo bank has seized on the disruption caused by the sale of HSBC's branches in upstate New York by luring away some business customers from rivals, CFO Rene Jones says. He also shares his outlook on M&A and interest rate risk tied to mortgages.

The consensus around Friday's landmark credit card deal between retailers, Visa and MasterCard is there is no consensus. Click through for immediate - and often conflicting - reactions from bankers, retailers and informed observers.

Finally, senior policymakers are focusing on negative equity. But the answer to the problem is to change borrowers' incentives, not to abrogate contract and property rights.

U.S. Bancorp (USB), the top performer in the KBW Bank Index for the past 12 months, posted its 11th straight year-over-year increase in quarterly profit as fewer bad loans and increased revenue helped drive results higher.

Bank of America (BAC), shaking off some of the drag caused by faulty mortgages, swung to a second- quarter profit as losses in real estate narrowed and the company set aside less for bad loans.

PNC Financial Services (PNC), the seventh-largest U.S. commercial bank by deposits, said second-quarter profit declined 40 percent on costs tied to mortgage-putback demands.

MADISON, Wis. – University of Wisconsin CU said it has agreed to build a new branch at the former Brennan’s Market site, the $1-billion credit union’s 13th branch in Dane County and 22nd in Wisconsin.

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Camco Financial (CAFI) in Cambridge, Ohio, is looking to raise up to $10 million through a common shares rights offering to existing shareholders.