The Federal Reserve Bank of New York is seeking bids for more of the mortgage bonds assumed in the government rescue of American International Group Inc. as prices on the debt rally, two people with knowledge of the plan said.

SUMTER, S.C. – SAFE FCU inaugurated a new student-run branch at Lee Central High School in Bishopville.

A federal judge has granted approval for a Florida force-placed insurance class action to proceed against Wells Fargo and QBE Insurance. Evidence already uncovered in the case poses added peril to the defendants and other banks.

Weak demand for advances among member banks suppressed profits at several of the nation's Federal Home Loan Banks during the fourth quarter.

It's awards season and consulting firm Corporate Insight recently rolled out the proverbial red carpet for its tenth annual Bank Monitor Awards, which honor banks with gold, silver or bronze medals for their online banking features. The banks are compared to a baseline developed by the firm, not with each other, so more than one bank can qualify for each medal in each category. Bank of America led the pack with four gold medals.

Industry members and consumer advocates gathered on Wednesday to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

CEO Douglas Glenn has won the patient support of Carlyle Group and other private-equity investors in the Virginia bank, and cleared the path for an important stock offering.

Ames National Corp. in Iowa has agreed to acquire two branches in the north central region of the state from Liberty Bank.

The acting commissioner of the Federal Housing Administration on Wednesday blasted news reports that claim Bank of America Corp. was essentially bailing out the agency's mortgage insurance fund.

In a wide-ranging interview, Discover CEO David Nelms expressed reservations about the prepaid industry, vowed to defend Discover's cash-back rewards program at all costs, and said he doesn't plan to go recruiting in Silicon Valley anytime soon.

The parent company of United Legacy Bank in Winter Park, Fla., is buying a large stake in a rival bank in what appears to be the first step toward building a multi-bank holding company.

Like the mast of a sailing ship coming over the horizon, the first sign that Congress may restructure Fannie Mae and Freddie Mac has appeared.

Bankers shouldn't complain about intrusive government regulation while begging Congress to extend unlimited deposit insurance on large transaction accounts. It's disingenuous, and perhaps worse, it's dangerous politics.

JPMorgan Chase, Citigroup, Bank of America's Countrywide unit and more than six other major banks are being sued over $949 million in residential mortgage-backed securities, Reuters reported Wednesday citing a summons.

JPMorgan Chase & Co. is planning to open between 25 and 30 branches in Northern California this year as part of its ongoing quest to add market share in the nation's largest state.

The Obama Administration is pushing back against a recent news report that concluded U.S. taxpayers will subsidize the roughly $25 billion mortgage settlement.

CoBank, the largest lender in the government-backed Farm Credit System, reported record profits in 2011 as higher prices for key commodities such as corn, wheat and soy led to increased loan demand from large cooperatives and agribusinesses.

For banks, the Consumer Financial Protection Bureau's plans to take a close look at checking account overdraft fees puts a multi-billion dollar source of revenue at risk.

People's United Financial Inc. in Bridgeport, Conn., is moving to streamline its operations after making five acquisitions in less than three years.

A U.S. Bankruptcy Court trustee in Pennsylvania wants a judge to dismiss the bankruptcy case of Michael J. Covatto, former president of defunct collection agency Unicredit America Inc., an Erie, Pa.-based firm that operated a fake courtroom allegedly to intimidate debtors (see story).