Sixty-one small banks will receive a total of $608 million in the latest round of funding from the Small Business Lending Fund, the Treasury Department said Wednesday.

Simone Lagomarsino reflects on the divisive debate on whether credit unions should be allowed to raise capital. Backers view such a move as a necessity for struggling credit unions, while detractors worry that it could cost the industry its tax-exempt status.

Simone Lagomarsino took the helm of Heritage Oaks in Paso Robles, Calif., on Monday. The veteran banker has a long track record of selling banks, but says she is here to build value.

Merchant-funded rewards provider BillShrink Inc. is expected to announce Wednesday it has changed its name to Truaxis Inc.

Fiserv said Wednesday that it has completed its acquisition of the New York bank technology and payments vendor CashEdge.

Despite an increase in the number of cyber attacks, losses to financial institutions and their customers have fallen over the last 18 months.

In what would be its first whole-bank acquisition since 2008, Prosperity Bancshares Inc. in Houston has announced plans to buy the $72 million-asset Texas Bankers Inc. in Austin.

Here is a common scenario. A bank executive develops a new product, maybe a fee-generation concept. Properly following procedure, he consults the compliance officer, who performs a check-the-box review and signs off — but raises a "fairness" concern because the product is controversial with regulators and consumer groups.

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S1's board advised the company's shareholders not to accept the exchange offer ACI made in its hostile bid. ACI's offer, which would disrupt S1's planned merger with Fundtech, "is not in the best interests of S1 or its stockholders," S1 said.

American Banker Washington Bureau Chief Rob Blackwell discusses the status of the landmark banking legislation.

TD Retail Card Services will issue and administer a new private-label credit card for Elkhart, Ind.-based Forest River Inc., a manufacturer of recreational vehicles and cargo trailers.

First Merchants Corp. in Muncie, Ind., used a regulatory filing Tuesday to disclose the names of the two private equity firms that participated in a recent private placement of common stock.

Webster Financial Corp. Chairman and Chief Executive Officer James C. Smith has no regrets about eliminating free checking for customers.

The New Jersey Supreme Court lifted a foreclosure ban on Ally Financial Inc. on Monday, removing the last state barrier that had prohibited mortgage servicers from resuming foreclosures one year after their widespread "robo-signing" procedures came to light. The court allowed five other large banks to resume foreclosing on delinquent homeowners last month.

Fraudsters are increasingly using alternative payment methods to make bogus transactions, in many cases moving away from debit cards and checks, merchants report.

Bank of America is expected to close 750 branch offices nationwide. Community banks covet B of A's prime real estate, including Umpqua and First Niagara.

The Federal Reserve on Tuesday announced a written agreement with Pinnacle Bank Holding Co. in Orange City, Fla.

Senate Banking Committee hosts academics for reprise of familiar debate over role of government.

The chief executive at Texas Capital Bancshares Inc. says that regional banks like his are losing potential commercial loan business to deposit-rich larger banks that are undercutting them on rates and offering more favorable terms.