CoBiz Financial Inc. said Monday that it was initially approved for as much as $57.4 million from the Small Business Lending Fund program — the second highest amount approved to date.

New home sales in July came in at a slight decline from the prior month, a sign that ultra low mortgage rates are still not moving sales off their Depression levels.

The Federal Deposit Insurance Corp.'s "Quarterly Banking Profile" showed many positive signs for the industry. Net income was nearly 38% higher than a year earlier, registering the eighth straight quarter with year-over-year earnings growth. Total loans rose 0.9% in the quarter to $7.3 trillion, the first such increase in three years.

Miami-based Ocean Bank faces a nearly $11 million fine to settle charges it turned a blind eye to drug traffickers allegedly using the bank to launder money.

American Express Co. and Mercedes-Benz USA have introduced a cobranded card with rewards tied to the luxury car brand, in the latest credit card industry effort to gain business from upscale consumers.

Central bank proposes two-year phase-in period for thrift holding companies to start new reporting requirements.

U.S. commercial property prices rose 0.9% in June, the second straight monthly gain, as buyers increased purchases in smaller cities in search of higher returns, according to Moody's Investors Service.

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Even though the mobile banking space is maturing, some banks continue to deploy multiple apps to get a first-to-market advantage for new functions.

When the final chapter on this housing crisis is written, I hope that I am still around to see those who were responsible for its cause and the feeble attempts to fix it held responsible.

Capital One negotiated a crucial concession in its agreement to buy HSBC's cards business, while First Niagara did not in a big branch deal with the same seller. Investors, skittish about the markets, have punished First Niagara.

Community groups in California are protesting Capital One Financial Corp.'s planned acquisition of ING Direct, saying the banks have done little to help low-income communities in a state that has accounted for a large chunk of their profits.

Visa's attempt to phase out the old, static PIN in favor of dynamic authentication is facing resistance – in particular because many are not convinced that the PIN is past its prime.

The agency's Quarterly Banking Profile will report bank and thrift earnings for the second quarter. In May, the agency said institutions had earned $29 billion in the first quarter, and net income had grown on a year-over-year basis for seven straight quarters.

American Express Co. has launched a new business credit card that places further emphasis on ad spending. The new card builds on Amex's recent efforts to attract small-business owners through their online advertising.

San Francisco's city attorney said Bank of America Corp. agreed to a $5 million settlement of a suit over its use of the National Arbitration Forum to handle credit-card disputes.

Accenture said Monday it will buy Dallas-based mortgage outsourcing provider Zenta, in a move that puts the global consulting and outsourcing firm in the thick of the mortgage origination business and the massive loss-mitigation efforts of the mortgage servicing industry.

Record-low delinquencies are pointing toward further declines in writeoff rates, though the industry appears to be approaching the point where loan performance can improve no further.

Rockland Trust Co. in Massachusetts has hired a team of asset-based lenders away from Webster Bank of Waterbury, Conn.