Bankers and prepaid card executives defended the industry’s much-criticized fees on Wednesday, saying that prices and practices have improved as the industry has matured.

PacWest Bancorp in Los Angeles is attempting a hostile takeover just days after unseating Umpqua Holdings to buy American Perspective Bank. Industry observers say the company's newfound buying aggression might make it a better seller someday and give its PE investors a tidy exit.

Digital Risk said it is starting a task force that aims to set best practices for mortgage risk due diligence.

First National Corporation in Strasburg, Va., is planning to raise up to $11.8 million in a rights offering and intends to use the proceeds to bolster its capital levels, invest in its expansion and perhaps buy back preferred shares issued under the Troubled Asset Relief Program.

SpringLeaf Finance Corp., which is partly controlled by the U.S. government, has entered into another round of layoffs, and may have to file for bankruptcy protection, according to industry advisors close to the company.

Business clients that receive thousands of checks per month typically can't get automated bulk check processing services from a small bank. And if the services matter to those clients, the small banks lose their business to larger rivals.

The legislation would ban high-to-low reordering of transactions and limit the number of overdraft fees that a bank can charge each year.

Some banks are missing out on a large opportunity to offer prepaid cards to potential customers, 15% of whom get turned down for traditional products, according to prepaid specialist The Bancorp.

JPMorgan Chase's new prepaid card, Liquid, is being marketed as an alternative to a bank account, but its underlying terms make clear that it's more of a complement to one.

Enterprise Financial Services (EFSC) in St. Louis is aiming to repay at least part of the $35 million it received from the Troubled Asset Relief Program by the end of this year.

The American Bankers Association and its insurance subsidiary are urging lawmakers to immediately reauthorize the National Flood Insurance Program, arguing that a failure to do so would only place further stress on the nation's housing sector.

Wells Fargo & Co. (WFC), the largest U.S. mortgage lender, said federal prosecutors may seek damages and penalties after investigating whether it violated anti- discrimination laws while financing homeowners.

B of A's annual meeting drew hundreds of protesters, and shareholders complained to CEO Brian Moynihan about the company’s foreclosure practices.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Fannie Mae posted $3 billion in total "comprehensive" income in the first quarter, and then turned around and paid the U.S. Treasury $2.8 billion in dividends, according to figures released Wednesday morning.

Hilltop Holdings announced Wednesday that it is buying PlainsCapital of Dallas for roughly $520 million in cash and stock.

PacWest Bancorp has been busy in the past week, usurping another bank's offer for American Perspective Bank and launching a hostile bid for First California. There have been a handful of similar bids in the past decade or so, though few have succeeded.

PacWest Bancorp (PACW) in Los Angeles is dead serious about expanding its California footprint through acquisitions.

The announcement by Bank of America (BAC) of their plan to offer up to 200,000 struggling homeowners a new lease on life for their underwater mortgage through principal reduction at first glance seems like a major step forward in addressing a nearly 5-year old problem.

A laid-off WaMu employee is the author of a Hobbit-like parody featuring dwarf bankers.