The big banks' mortgage woes keep piling up, in a backlog that is likely to drag down their profits — and a broader housing recovery — for the foreseeable future.

Bank of America Corp., the second biggest U.S. lender by assets, may trim annual costs by as much as an additional $3 billion in the next stage of Chief Executive Officer Brian T. Moynihan's efficiency plan.

Former Google CIO Douglas Merrill believes his firm, ZestCash, can jump-start the subprime lending market with an alternative underwriting engine that uses thousands of consumer data points and proprietary math to aid loan decisions.

Industry observers agree that the bureau's authority will be challenged in court, but it's unclear when and where the lawsuit will come from.

Bank of Hawaii Corp. in Honolulu said Monday that fourth-quarter earnings fell 3.4% from a year earlier, to $39.2 million, as a decline in credit costs and higher net interest income could not offset a steep drop in fee income.

"Rich" Cordray (as his sidekick Raj Date calls him) is being unfairly stigmatized by press references to him as "5-time Jeopardy winner." As if that were his greatest qualification!

My guess is that Shaun Donovan and Tim Geithner are burning the midnight oil and firing up the afterburners in attempts to wrap this agreement up by Tuesday’s State of the Union address.

Nine months after it announced plans to raise up to $75 million issuing common and preferred shares to new and existing investors, Intermountain Community Bancorp in Sandpoint, Idaho, said Sunday that it now intends to raise no more than $59 million.

S&T Bancorp Inc.'s fourth-quarter profit rose nearly 7% from the prior quarter, to $9.3 million, but earnings per share missed analysts' projections as margins were squeezed and income from overdrafts declined.

PayPal, which has been testing a point of sale payment system with Home Depot, is reportedly testing the same system with Office Depot.

Virgin Money Holdings U.K. Ltd. is in the final stages of buying part of MBNA Europe Bank Ltd.'s 10 billion-pound ($15.5 billion) U.K. and Irish credit card portfolio, the Sunday Telegraph reported.

Tennessee Commerce Bancorp has missed a regulatory deadline for improving its capital ratios and is now warning investors that it is likely to fail if it is unable to raise fresh capital or find a buyer.

LONDON - Bridgepoint is in exclusive talks to buy Morgan Stanley's wealth management unit, Quilter, a person familiar with the situation told Dow Jones Newswires Monday.

Federal authorities are said to be investigating possible fraud at General Electric Co.'s former subprime mortgage arm more than four years after the sector began to collapse.

WASHINGTON — In the first three closures of the year, regulators shuttered institutions in Georgia, Florida and Pennsylvania.

Kelly King is bullish about BB&T's growth opportunity this year, and he believes the company has many options when it comes to M&A.

Bank of the West in El Paso, Texas, is changing its name to WestStar Bank to avoid confusion with a much larger San Francisco bank that shares its name.

WASHINGTON — The Consumer Financial Protection Bureau issued a final rule Friday that will impose new disclosure requirements for remittance transfers.

Bank of America mid-week told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a "surge of refinancing activity" and capacity problems.

Provident Bank president and chief executive Jack Kopnisky wasted no time in making good on his promise to hire bankers away from his competitors.