Bank fraud comes with a heavy price tag to financial institutions and their customers. As the nature of banking changes, the methods of combating fraud must also evolve.

Yakima Valley Credit Union in Yakima, Wash., said Wednesday that it has signed a nonbinding letter of intent to merge with Catholic Credit Union to create a credit union with almost $500 million in assets and serving 50,000 members.

City County Credit Union in Fort Lauderdale, Fla., plans to double its coverage in the state by expanding into nine nearby counties.

First BanCorp in San Juan, Puerto Rico, has reduced its shares outstanding to 21 million after a 1-for-15 reverse stock split.

Tower Bancorp Inc. of Harrisburg, Pa., said Wednesday it may cost up to $5.6 million to shut down the former mortgage division of First Chester County Corp., a bank Tower bought in December.

The Federal Reserve Board reached written agreements with five community banks Thursday.

Recently released terms of the Small Business Lending Fund are fueling fears that may discourage participation in the program.

CapitalSource Inc. may not be drowning, but that isn't stopping the Chevy Chase, Md., finance company from looking for help.

Rozanne Andersen, formerly CEO at ACA International, has joined Minnesota-based law firm Morrison Fenske & Sund to lead the firm's national compliance and reputation management practice for the accounts receivable management industry.

Credit Karma announced Thursday it is offering consumers two additional credit scores for free through its Web site, CreditKarma.com.

U.S. consumers and businesses likely increased spending in November, a possible sign that the economy began gaining strength at the end of last year, according to recent forecasts from economists.

CapitalSource, a commercial lender to small and medium-sized businesses with a market value of $2.4 billion, has hired a financial adviser to explore a potential sale.

Carolina Trust Bank in Lincolnton, N.C., raised $6.3 million after selling 2.1 million shares of common stock.

First Commonwealth Financial Corp. in Indiana, Pa., has named a company insider to become its chief risk officer.

Capitol Bancorp Ltd., which has headquarters in Lansing, Mich., and Phoenix, has commenced an exchange offer to holders of its trust-preferred securities.

A land deal in Iowa City, involving the city and a credit union is the focus of a legal battle.

BankFirst of Winter Park, Fla., has agreed to acquire Commercial Bancorp Inc. of nearby Ormond Beach.

Webster Financial Corp. in Waterbury, Conn., said it had given more responsibilities to its chief financial officer, Gerald Plush.

United Bankshares Inc. in Charleston, W.Va., said it expects a $15 million insurance claim payment to help lift its fourth-quarter earnings.