FNB United Corp. has completed its acquisition of Bank of Granite Corp., part of the unprecedented merger of two ailing banks in North Carolina.

Fred Joseph, Colorado's banking commissioner, said Community Banks of Colorado should have been able to sell its branches in a bid for more time to resolve its problems. But the FDIC and the Fed overruled him — and then failed the bank.

Wal-Mart Stores has joined the list of national retailers that sell Square's device that turns smartphones into mobile card readers.

Weemba, a new online provider that connects borrowers with lenders, reported Monday that loan listings relating to health-care expenses made up more than half of its requests so far.

WASHINGTON - The credit union industry has been lobbying the powerful congressional committee charged with reducing the deficit, seeking to ensure that credit unions preserve their tax-exempt status.

Bank of America's latest management shake-up is all about increasing "customer share," says home loan sales exec Matthew Vernon. It wants to capture more of the 86% of B of A clients who go elsewhere for mortgages. Sound familiar?

Lenders loosened terms on commercial mortgages originated to be packaged into bonds during the third quarter as sales of the securities surged, according to Moody's Investors Service.

Bank of Hawaii Corp. in Honolulu posted third-quarter earnings of 92 cents a share, nine cents more than the average expectation of analysts.

Anchor Bancorp's losses widened in the third quarter, though the Lacey, Wash.-based company shrunk its nonperforming assets.

Metro Bancorp Inc. in Harrisburg, Pa., posted a third-quarter loss of $5.7 million due to increases in the loan loss provision and chargeoffs.

Despite economic gloom, a number of industries are poised for success, according to IBISWorld research. Here is a sampling of industries projected to produce solid growth over the next five years.

Tagattitude's TagPay uses sound waves to securely transmit payment information without the need for a near-field communication chip. The French company's sound-based system generates dynamic data that is unique to each transaction.

Arizona regulators this week seized control of the troubled mortgage insurance division of PMI Group, Walnut Creek, Calif., according to a notice posted on the company's website.

The Federal Reserve usurps authority usually held by state regulators and fails a Colorado bank.

Mark Conner, former president of FirstCity Bank of Stockbridge, Ga., pleaded guilty to conspiring to commit bank fraud and perjury, according to the Justice Department Friday. FirstCity Bank was closed in March 2009.

Capital One Financial Corp. is looking for another private-label credit card portfolio to buy, as it absorbs the U.S. card business of HSBC Bank USA and the Kohl's Corp. store card portfolio, CEO Richard Fairbank said on Thursday.

Right now, the government is at risk for an increased share of the reduced amount of residential mortgages that are being produced. This is another damnable result of the recent crisis. No proposed remedy for it has attracted much support. I'll suggest alternatives.

Two community banks in Georgia, and one in Florida, were closed late Friday at a cost of more than $130 million to the Federal Deposit Insurance Corp.

Bank of America Corp. reshuffled top retail bank executives yet again this week, according to an internal memo obtained by American Banker.