Capitol Bancorp Ltd. must really want to keep its board staggered.

State Bancorp Inc. in Jericho, N.Y., said Wednesday that it redeemed $36.8 million of preferred stock issued to the Treasury Department as part of the Troubled Asset Relief Program.

Sturgis Bancorp Inc. in Michigan is suspending dividend payments to shareholders because management believes its strategy for propping up capital ratios by shrinking assets is no longer viable.

Visa may be preparing to debut its ties to Google's mobile wallet in London at the 2012 Summer Olympic Games, sources say.

Online payment company hopes to avoid the mobile coupon mistakes of daily-deal leaders Groupon and Living Social.

Ally Financial Inc. and Bank of America Corp. were sued by DZ Bank AG over the sale of $289.8 million of residential mortgage-backed securities.

California Bank and Trust in San Diego said Wednesday that customers are now able to open additional deposit accounts and apply for credit cards and certain consumer loans online through its DirectNET Consumer Online Banking.

The head of the Consumer Financial Protection Bureau talks about the challenges of building a new agency, quelling fear of the bureau among the industry, working with other regulators, and preparing for 2012.

The community banking sector is starving for capital, and yet debate is dominated by complaints about regulatory burden. Instead, banks need to push regulators to let private equity investors assist small institutions.

Visa Inc.'s chairman and chief executive Joseph Saunders received $11.8 million in compensation for fiscal 2011 as the payments processor grew revenue and transaction volume in the face of new debit-card regulations.

The former special inspector general for the Troubled Asset Relief Program hammered the Obama Administration and Treasury Department Tuesday night at a panel discussion on the foreclosure crisis, saying fears of a political backlash led to the administration's tepid response to the housing crisis.

Just when you thought all-stock deals were kaput, three recent deals proved otherwise. But they won't work for everybody in today's volatile markets.

Zions has selected Fiserv to support multi-channel digital payments for retail and business customers.

The backlog of real estate-owned homes held by banks and the government is "staggering," Fitch Inc. said this week, and the disposal of those distressed properties in the next two years will depend largely on the strategies taken by Fannie Mae and Freddie Mac.

RedRidge Finance Group said Wednesday that its RFG Fund I LLC acquired a majority interest in Excel Finance Holding Co., a consumer and auto loan provider.

Two independent advisory firms are recommending that shareholders at Brooklyn Federal Bancorp Inc. in New York vote in favor of the thrift company's plan to merge with Investors Bancorp Inc. of Short Hills, N.J.

As part of its ongoing effort to shed non-core assets, Citigroup Inc. is selling off its remaining stake in life insurer Primerica Inc.

Auto-loan delinquencies will remain at record lows next year, spurring more competition among lenders looking to expand their business, credit bureau TransUnion predicts.

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GROTON, Conn. -- Charter Oak FCU is opening its 12th branch at the Electric Boat campus, in New London, the building site for Navy submarines.