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.

FITCHBURG, Mass. – Workers’ CU has applied to the Department of Banking to open an in-store branch, in Hannaford Brothers supermarket in Chelmsford.

The bank, led by ex-Sovereign chief Jay Sidhu, cited uncertain market conditions.

The more obscure a credit card issuer's pricing and the more aggressive its marketing, the more its losses jumped during the recession, according to a new study from the Center for Responsible Lending.

Cambridge Savings Bank has added mobile check deposit to its mobile banking app.

Louisiana has filed a RICO complaint against MERS and a host of megabanks, Bank of America included. Down the line, consumer advocates hope hard-nosed prosecutors can provide what Occupy may not be able to: justice for homeowners.

Webster Financial (WBS) in Waterbury, Conn., has established a new Treasury Services division and brought in former SunTrust Banks (STT) executive Philip C. Picillo to run it.

The renewed focus on fair lending and UDAP issues, especially with the advent of the Consumer Financial Protection Bureau, is becoming a bigger factor in CRA ratings.

The banking industry suffered credit crises in the 1970s, 1980s, 1990s, and 2000s. An unavoidable conclusion is that its loan loss reserves were in all cases too small.

Fifth Third Bancorp (FITB) is streamlining its number of checking and savings products in an effort to win a larger share of customers' wallets.

Bankers received an earful about pay from the public this year. But among the audience that matters most—their own shareholders—the feedback was overwhelmingly positive.

A coalition of activist groups is planning a massive demonstration of as many as 1,000 participants at Bank of America's annual meeting in Charlotte, N.C., on Wednesday.

At $4.95 a month, JPMorgan Chase's new prepaid card undercuts even its student checking account. But its fee can't be waived with direct deposit or a high minimum balance — to get the card for free, users must link it to a JPMorgan Chase checking account.

Sun CEO Tom Geisel says hiring teams of bankers from rivals and opening new offices will allow Sun to thrive once it purges an existing portfolio of nonperforming real estate loans.

EverBank Financial (EVER) in Jacksonville, Fla., has launched a new wealth management unit that will target affluent households nationwide.

"We've been pretty aggressive" marketing the revamped refi program to customers, says a Fifth Third mortgage executive. Lenders are making so much money on secondary market sales they're practically "stealing it."

Remittances sent to Latin America from the U.S. in 2011 exceeded pre-recession levels and more money was remitted through banks than other methods, according to a new report from Inter-American Dialogue.

Automated Clearing House payments are cheap, but compared to other payment methods they are slow, and companies are constantly developing adaptations and alternatives to make such payments in real time.

The pace of small-business lending slowed in April as demand from borrowers weakened and lenders of all sizes approved fewer loans.