IMGCAP(1)]

Plans to slash 30,000 jobs, cut $5 billion in costs may buy needed time.

After making five acquisitions in less than three years, People's United Financial Inc. in Bridgeport, Conn., is now turning its attention to slashing overhead and growing its balance sheet more organically.

IMGCAP(1)]

Michael Viazzoli, a former Bank of America Corp. executive, has been named president of Bank of Kansas City.

The online payment provider eLayaway said on Monday that it would join the Secure Vault Payments network and offer the service to its customers in the fourth quarter.

In its second-to-last quarter as an independent company, Parkvale Financial Corp. in Monroeville, Pa., reported a a profit of $1.7 for the quarter that ended June 30, compared to a loss of $21.2 million in the same period last year.

Continuing its aggressive expansion in Southern California, upstart Grandpoint Capital Inc. in Los Angeles is planning to buy Regents Bancshares Inc. in La Jolla.

Large banks see capital and premium implications from large deposits that seek full FDIC insurance.

John Allison may have retired as BB&T's CEO in 2008 but he still has strong opinions about the economy and banking industry. In a wide-ranging interview, he projects five years of stagnant growth, mixed results for M&A and 5-10% job cuts in the banking industry.

UniRush, the marketer of the prepaid card RushCard, has hired JPMorgan Chase veteran Rob Rosenblatt to be its chief executive.

Bank of America Corp. said Monday that it would eliminate about 30,000 jobs over the next few years as part of its latest cost-reduction plan.

As part of its investigation leading to recent card-fraud arrests, the U.S. Secret Service Electronic Crimes Task Force revealed some of the latest tactics being used to snag card data to conduct fraudulent transactions.

1st Advantage Federal Credit Union had a problem: Almost no one was clicking on the banner ads it displays to cross-sell products. So it tried a different approach that boosted conversion rates for one product to nearly 10%.

The largest shareholder at HF Financial Corp. has nominated its own slate of directors to challenge the candidates being backed by the management of the Sioux Falls, S.D., thrift company.

LVNV Funding LLC, a Greenville, S.C.-based debt buyer, has settled a lawsuit in Maryland's federal court that involved the firm's license status in the state. The company agreed to erase an estimated $10 million in consumer debt for some 3,500 plaintiffs.

The Office of the Comptroller of the Currency closed First National Bank of Florida, in Milton, on Friday.

Old National Bancorp in Evansville, Ind., plans another round of branch consolidations as it integrates the failed Integra Bank.

New York bankers have indelible memories where they were and what they were doing during the terrorist attacks of 9/11. Whether working in a high rise down the street from the World Trade Center or attending a convention in the Rockies, each remembers how events of that day have shaped his life and world. Following are some of their reflections.

IMGCAP(1)]