Richard D. Parsons, the politically connected chairman of Citigroup Inc., will step down from the board after 16 years, closing a chapter that included the company's near-death experience during the financial crisis.

While community banks call on Congress to give the Transaction Account Guarantee more time, an array of - albeit costlier - alternatives for retaining customers and liquidity does exist.

The Treasury Department said Friday it has agreed to pay $171 million it had withheld from Bank of America and JPMorgan Chase after the lenders fixed problems in how they handle loan assistance programs.

PennyMac founder and former Countrywide president Stanford L. Kurland has taken his share of criticism for helping to start the financial crisis. Now he is singing the praises of the government's latest attempt to fix it.

The Federal Reserve Board on Friday issued guidance to community bank examiners on what they should consider when upgrading an institution's supervisory rating.

Community West Bancshares Inc. in Goleta, Calif., is closing its four out-of state Small Business Administration lending offices as part of a broad restructuring plan aimed at reducing risk and improving the company's overall health.

After more than 25 years as national bank, Equity Bank in Andover, Kan., is switching to a state charter.

First Community Bancshares Inc. in Bluefield, Va., is bulking up in the Richmond market with a deal to acquire the $286 million-asset Peoples Bank in Virginia for about $40.6 million in cash and stock.

GFA Federal Credit Union of Gardener, Mass., has agreed to acquire Monadnock Community Bank, a troubled former credit union located in nearby Peterborough, N.H., in the second credit union deal for a bank over the past few months.

One has to admire the tenacity of the credit union lobby. Once again, a handful of very large credit unions are putting pressure on Congressional officials to pass legislation that will increase credit unions' business lending authority from 12.5 percent of their total assets to 27.5 percent. The commercial banking industry has fought off similar attempts for such expansion in previous Congressional sessions and we are working hard to do so once again.

General Motors Co. said Thursday it signed a deal to offer dealer and consumer financing through Wells Fargo & Co. in GM's U.S. Western region, another potential threat for Ally Financial Inc.

A decision by a Georgia judge this week raised new obstacles in the Federal Deposit Insurance Corp.'s claims against former managers of the failed Integrity Bank.

Rich trading multiples for banking companies like Prosperity in Houston make accretive acquisitions relatively simple. Institutions with such powerful stock currencies are few, however.

The slow M&A market gives the Pennsylvania bank little choice but to digest its two acquisitions and wait for conditions to improve, CEO Reuter says.

Sen. Richard Durbin on Thursday blasted Bank of America following a report that the firm is weighing new fees for certain checking account holders.

Community banks are warning Congress that allowing interest to be paid on such accounts will help large banks and hurt local communities, but they appear to be gaining little traction.

JPMorgan Chase & Co. Chairman and Chief Executive Jamie Dimon said new deposit fee restrictions have compelled the New York company to shy away from building new branches in lower-income areas.

The Blackstone Group has converted some of its shares in BankUnited Inc. into non-voting stock in a move that should allow its own chief executive' to keep his personal financials private.

The Federal Deposit Insurance Corp. is embarking on an ambitious study to better understand community banks. It doing so, it's looking beyond the traditional measure — size.

Beach Business Bank recently agreed to settle a lawsuit brought against it by shareholders corralled by a law firm specializing in litigation tied to acquisitions. Those types of investigations used to be reserved for larger deals but are quickly becoming a mainstay as consolidation picks up.