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Bank of American Corp. and Ally Financial Inc. have agreed to make deeper principal reductions for some borrowers under the $25 billion multistate mortgage servicer settlement.

More than a month after federal and state officials announced a massive $25 billion settlement with the five mortgage servicers, the Justice Department on Monday finally released the actual legal document. The document dump provided critical new details about the terms of the agreement.

The list of potential bank buyers is growing at a faster rate than the ranks of sellers, according to a new research note by KBW Inc.'s Keefe, Bruyette & Woods Inc.

TCF Financial CEO William Cooper had some surprising praise this week for the much-contested CFPB. But he pulled few other punches, telling retail bankers that Bank of America "screwed the pooch" with its failed debit-card fee.

Private equity fixed Pacific Capital and has agreed to sell it to UnionBanCal for a healthy price in a slow M&A market. There could have been more deals like this had regulators embraced PE.

William S. Haraf, the commissioner of California's Department of Financial Institutions, has resigned from the post, effective Friday.

Two small Kansas banks that have been discussing a merger for much of the past year have finally pulled the trigger on a deal.

Already an active lender to franchisees of fast-food restaurants, City National Corp. in Los Angeles is opening a loan office in Seattle as part of its strategy to broaden the scope of its restaurant financing.

Bank customers are making fewer regular visits to their local branches, which aren't getting cheaper for banks to maintain — but bankers are sharply divided on how to fix their branch problems.

The Bancorp Inc. has begun issuing a cobranded PayPal debit MasterCard, the financial institution announced March 12.

Fox Chase Bancorp Inc. in Hatboro, Pa., said the planned sale of a pool of problem consumer loans has fallen through and that, as a result, its total nonperforming assets were higher in the fourth quarter than it initially reported.

The Credit Union National Association launched a radio campaign to help save House Financial Services Chairman Spencer Bachus, who is being challenged by a Tea Party-backed candidate in Tuesday's Republican primary.

First South Bancorp Inc. in Washington, N.C., has tapped the chief financial officer at another North Carolina bank to be its next president and chief executive.

A Maryland real estate investment trust that invests in mortgage-backed securities is planning to raise up to $1.8 billion in a stock sale.

The U.S. government and 49 states filed a $25 billion settlement of alleged foreclosure abuses in federal court on Monday, capping a year of negotiations with five major banks after public outrage erupted in fall 2010 over revelations that banks cut corners when processing foreclosures.

U.S. Bancorp has created a separate in-house appraisal unit overseen by a senior risk officer, breaking from the way most banks handle appraisals of residential properties.

Bancorp Bank of Wilmington, Del., said Monday that it has agreed to issue prepaid card programs for Swift Prepaid Solutions.

UnionBanCal is taking the unusual step of marking up the value of Pacific Capital's loan portfolio as part of its $1.5 billion deal for the Santa Barbara, Calif., lender.