Sen. Richard Shelby and Sen. Bob Corker both sounded skeptical of the value of the traditional mortgage product, raising questions about whether the GOP may seek to eliminate it as part of a housing reform overhaul.

Astoria Financial Corp.'s shares were down sharply at midday Thursday after the Lake Success, N.Y., lender reported a 48% drop in its third-quarter earnings.

The price First Financial paid to acquire Freestar is likely to encourage more prospective sellers.

Brookline Bancorp Inc.'s shares were down almost 6% Thursday morning after the company said it was delaying the release of its third-quarter earnings report.

First Niagara Financial Group Inc. on Thursday reported third-quarter earnings that were weighed down by more than $16 million in costs from closing former Harleysville National Corp. branches in Pennsylvania.

The two largest U.S. banks serving Chinese Americans — Cathay General Bancorp and East West Bancorp Inc. — both reported double-digit jumps in third-quarter profits. Each cited solid demand for commercial loans.

Washington Federal Inc. in Seattle said Thursday that profits in its fiscal-year fourth quarter nearly doubled from a year earlier as its volume of problem loans continued to shrink.

The office of California's Attorney General on Tuesday subpoenaed Bank of America Corp., seeking to determine whether the bank sold and marketed mortgage-backed securities under false pretenses, the Los Angeles Times reported Thursday on its website, citing a person familiar with the investigation.

TCF Financial Corp. said Thursday that its third-quarter earnings declined 14% from the same period last year, to $31.7 million, due largely to a sharp drop in fees earned on deposit accounts.

Iberiabank Corp. has agreed to pay $2.5 million to settle claims the Lafayette, La., company illegally charged customers excessive overdraft fees.

Banks are ideally positioned to use their data on consumers' purchase histories and merchant relationships to send targeted daily-deal offers to customers. Groupon's random solicitations wouldn't stand a chance.

The Tampa Bay Buccaneers of the National Football League, known for its pewter-colored helmets and connection to privateers, has partnered with a local company that's been quickly growing through acquisitions.

FISHKILL, N.Y. – Bridgeway FCU on Wednesday said it will open a fourth branch in early November inside a Walmart store.

M&T and Comerica defended the deal-related charges that hurt their third-quarter earnings, saying future fees and new business will make the costs a distant memory. PNC says its deals will pay off quickly, too.

A federal judge has ruled the massive $8.5 billion settlement between Bank of America and several important investors who lost billions on mortgage-backed securities will be heard in federal court.

American Express Co. reported a 13% jump in third-quarter profit Wednesday, as the company's borrowers increased spending by 16% and losses from bad loans continued to decline.

Cardinal Financial Corp. in Tysons Corner, Va., on Wednesday said that third-quarter earnings rose 46% from a year earlier, to $8.6 million, due largely to improved credit trends and balance sheet growth.

Bank of America Corp., once the nation's largest residential mortgage lender, has dropped to third place, defeating the original purpose of its ill-fated takeover of Countrywide Financial Corp.

Washington Trust Bank will be one of the first banks to use FIS' new Business eBanking product.

Regulators are keeping a close eye on how smaller banks handle commercial lending and regulatory changes stemming from the Dodd-Frank Act, officials from various agencies told attendees at the Risk Management Association's annual conference.