The Federal Reserve announced enforcement actions Friday against North Valley Bancorp in Redding, Calif. Under a written agreement, North Valley cannot, without prior Fed approval, directly or indirectly extend or renew credit to borrowers whose credit is deemed "doubtful" or "substandard," among other credit-related restrictions.

Sterling Bancshares Inc. in Houston has promoted Bob S. Smith to chief credit officer at the company's subsidiary bank.

Friday brought the first failure of the year as Horizon Bank in Bellingham, Wash., was closed by state regulators.

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Midwest Banc Holdings Inc. in Melrose Park, Ill., said credit quality continued to deteriorate at its subsidiary bank in the fourth quarter, and warned the bank's capital ratios are expected to fall from a well-capitalized level at the end of the third quarter to undercapitalized for the fourth quarter.

Given its performance and capital levels, Chemical Financial Corp. had long been thought of as a market consolidator in its home state of Michigan, but it remained on the sidelines — until now.

A Federal Trade Commission study of nine of the largest buyers of delinquent consumer debt has participants in this industry worried that a clampdown is coming.

The Federal Trade Commission today identified the nine debt-buying companies that it has ordered to turn over information about their purchasing and collection practices.

The Federal Reserve announced enforcement actions Friday against North Valley Bancorp of Redding, Calif.

Chemical Financial Corp. has agreed to acquire fellow Michigan bank O.A.K. Financial Corp. in an all-stock deal worth about $77 million.

Community Central Bank Corp. in Mount Clemens, Mich., said Thursday that it had raised $2.7 million in fresh capital. The investment was made through a private placement involving local investors who bought convertible perpetual preferred stock.

Regulators, with their reputations on the line and anxiety about the future, are forcing some banks to hold on to much of the capital. In recent months, some banks that wanted to fully repay the Troubled Asset Relief Program were allowed to return a fraction.

LOWER BURRELL, Penn. – A-K Valley FCU said its board has decided to close its Homewood branch after the outlet, robbed four times in the past two years, was burgled on New Year’s Day.

ST. PAUL, Minn. – Affinity Plus FCU said it is renovating a former Starbucks location in Hasting into a new branch.

RALEIGH, N.C. – Coastal FCU, hit hard by the state’s recession, announced yesterday plans to shutter four branches as part of an effort to refocus on its core operations in the Raleigh market.

The Federal Deposit Insurance Corp. plans to issue a proposal Tuesday that would add specific types of compensation programs to the list of risk factors that determine a bank's assessment rate, according to sources.

The question of long-term viability is what gets progressive managers looking at the bank charter. And, access to the capital markets may be critically linked to viability.

The failure of our leaders to communicate the true nature of the CPP, and the media's mischaracterization of it, did severe and unnecessary damage to confidence in our nation's banking industry.

The Federal Trade Commission has concluded a case against collection agency Academy Collection Service Inc. (ACS) and alleged Fair Debt Collection Practices Act (FDCPA) violations by imposing civil penalties totaling $675,000 against Albert S. Bastian and Keith L. Hurt III.

Lawsuits citing alleged Fair Debt Collection Practices Act (FDCPA) violations reached an all-time mark in 2009 at 8,287, easily topping the record of 5,188 set a year earlier, according to data from U.S. District Court complaint dockets.