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The bankruptcy trustee winding down Thornburg Mortgage has agreed to settle for $6.5 million a lawsuit against the company's former executives and its outside legal firm that alleged they engaged in a conspiracy to secretly use the failed mortgage company's employees and assets to launch a new company.

The insurance unit of Encore Bancshares Inc. of Houston has acquired Whittington Insurance Agency in League City, Texas.

A unit of SI Financial Group Inc. in Willimantic, Conn., is selling its trust operations outsourcing business to an Atlanta wealth management company.

The $77.6 million HomeStreet Inc. expects to raise in its initial public offering would go a long way toward improving its capital levels but not far enough to satisfy a regulatory order.

IndyCar, an auto racing sanctioning association, is teaming up with First Bankcard to offer a racing-themed rewards card that will transact over Discover Financial Services' network.

The Federal Reserve has reached a written agreement with Commerce Bancshares Inc. in Franklin, Tenn.

PayPal is digging even further into the prepaid card market at a time when more underbanked consumers favor such products. Users of the prepaid card do not need to have a PayPal account — though having one provides additional benefits.

Thomas Storrs, who led a Bank of America predecessor for nearly a decade, died last week. In an interview, Hugh McColl recalls his mentor's ability to think strategically and his determination to make interstate banking a reality.

Investors would be interested in buying Emigrant's 32 New York branches if the price is right and a deal can be done soon, Investors CEO Cummings says, according to a report.

Buoyed by lower expenses and increased fee income, Meta Financial Group Inc. of Storm Lake, Iowa, said that it earned $3.1 million for its fiscal year first quarter.

While the industry waits to see the final, detailed terms of the mortgage servicing settlement, officials released two documents Tuesday summarizing the highlights of the deal.

WASHINGTON – Joseph A. Smith, Jr., who will monitor the 49-state mortgage settlement with the five largest servicers, resigned Tuesday as North Carolina's bank commissioner.

The emergence of several new prepaid debit card programs and growing national distribution of major prepaid card brands is helping to generate marketplace interest in buying and selling prepaid card portfolios.

Radian Guaranty's delinquent loan inventory grew by 500 loans in December, but then fell by 1,000 units during January.

Just how hungry is Ocwen Financial Corp. for servicing rights? In a new filing with the Securities and Exchange Commission the nonbank servicer discloses that it is currently reviewing $300 billion of MSRs for purchase.

The Department of Housing and Urban Development has withdrawn a proposed rule that would have allowed government-backed Farm Credit System lenders to make more home loans.

President Obama announced Monday a doubling of a proposed tax on big banks to $61 billion. For the White House, the political appeal is obvious but the proposal itself appears highly unlikely to ever become law.

Rather than wait for government or plaintiff lawyers to find them, banks that were involved in the syndication of mortgage backed securities should control their exposure through a proactive, rigorous self-study program.

Banks seem eager to move unwanted assets off the books. Though single-family homes garner most of the headlines, banks are also attempting to sell other types of collateral at bargain-rate prices. In some ways, it looks like a yard sale. Here are a few examples of the assets that banks are peddling online.