Bank of America's plan to eliminate roughly 3,500 jobs this quarter marks just the start of an efficiency drive that could reduce the company's global workforce by about 10%.

American Express, which has been developing prepaid and digital payment options to expand its audience, has added yet another product: an online-only gift card.

Carlyle Group is set to join the growing ranks of publicly traded private equity firms, filing an initial public offering worth up to $100 million, although the amount of the offering is likely to change before the company's stock actually prices.

As ATM operators consider upgrades, security is a priority, but not the top priority. Operators are most welcoming of any function that reduces cash replenishment and deposit collection costs. Security improvements are the next highest priority.

Fewer than half of all cardholders have a private-label credit card, but those who do are more likely to carry a balance routinely on various cards than consumers who rely only on general-purpose cards, new data from Auriemma Consulting Group suggests.

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B of A spokesman Dan Frahm clarified late last week that the decision to stay in warehouse lending depends "to some extent on the interests of a potential buyer for our correspondent business.

There is more than enough capacity for the remaining private mortgage insurers to handle the current volume of low down payment loans as PMI and Republic Mortgage Insurance Co. stop writing new business, industry executives say.

The federal agency that oversees Fannie Mae and Freddie Mac filed lawsuits Friday against 17 financial institutions, including some of the largest American banks, alleging that they made misrepresentations when they sold private-label mortgage-backed securities to Fannie and Freddie.

A single acquirer picked up the operations of two failed Georgia banks late Friday in a deal costing the Federal Deposit Insurance Corp. nearly $72 million.

Eighty-five percent of U.K. consumers say they would recommend the technology, but 37% lack of retailer acceptance prevents them from using it more often.

The state attorneys general have a secret weapon in their negotiations with the largest mortgage servicers: the results of a HUD investigation into the banks' robo-signing practices.

Zions, in its attempt to spot fraud, was gathering much more data than its technology could handle. While searching for a needle in a haystack, it was just piling on more hay.

Renasant Corp. in Tupelo, Miss., has completed its acquisition of RBC Bank's Birmingham, Ala.-based trust department.

BofI Holding Inc. in San Diego is planning to raise $10 million in a stock sale and intends to use the proceeds to support growth and to boost regulatory capital at its bank subsidiary, Bank of Internet USA.

Large securities portfolios have helped generate relatively weak net interest margins as rates have become anchored at historically low levels.

Discover Financial Services has agreed to purchase $2.5 billion of private student loans from Citigroup Inc., as the lender continues diversifying beyond its main credit card business.

First Bancorp in Troy, N.C., has received $63.5 million from the Treasury Department's small-business lending program and has used the funds to exit the agency's Troubled Asset Relief Program.

Investor's stake in the future of Bank of America shows a boldness that banks now lack.

Regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation.