A federal appeals court in California has ruled that debt buyer Portfolio Recovery Associates must stop using an automatic dialing system to call cell phones without prior consent.

PNC Financial Services, the seventh-largest U.S. bank by deposits, said third-quarter profit climbed 11 percent as mortgage revenue helped drive an increase in non-interest income.

Pacific Premier Bancorp (PPBI) in Costa Mesa, Calif., has agreed to pay roughly $53.7 million to acquire a niche bank to help fund future loan growth.

A breakdown of bank M&A announcements for the week ended Oct. 13.

Stifel Nicolaus Weisel, an investment banking firm in St. Louis, has jumped to third from sixth place among bank deal advisors this year.

Citigroup has gotten rid of almost $500 billion in unwanted assets since the financial crisis, but executives say it still has work to do.

Rufus "Bud" Reitzel's vision created a $100 billion industry. When he started his small firm 50 years ago, he kept his accounts on two-by-four index cards and collected door-to-door in Detroit.

Citigroup Inc., the third-biggest U.S. bank, reported a surprise profit of $468 million for the third quarter, helped by a $582 million tax benefit and bond- trading revenue that beat analysts' estimates.

The asset management unit for Fifth Third Bancorp has agreed to sell some assets to three of its executives.

Banco Santander SA's decision to abandon its 1.7 billion-pound ($2.7 billion) purchase of 316 Royal Bank of Scotland Group Plc branches may prompt the U.K. lender to keep them or seek more time to find a new buyer.

RBC Capital Markets has named a former Bank of America (BAC) executive as a vice chairman.

More than 700 community banks failed a stress test performed by the New York data company Trepp, based on the proposed Basel III guidelines. Even if they wanted to do something about this problem, many would have a hard time raising capital in the private markets now.

Two East Coast banks have shed their mutual holding company ownership.

A district court judge in Maryland this week dismissed 3,168 debt collection cases as part of a settlement against debt buyer Worldwide Asset Purchasing and its affiliates.

Team Capital has no plans to go public, but it is helping investors cash out by partnering with a New York broker-dealer that makes markets in illiquid stocks.

Former FDIC chairman Sheila Bair, who vocally criticized the Citigroup bailouts in her new book, said Friday that she sees few growth prospects for the bank.

The $4.4 billion-asset bank holding company based in Dubuque, Iowa said Thursday it would buy Heritage Bank in Phoenix for $16 million in cash.

Many community banks could find themselves in the same dilemma as LNB in Ohio, which is weighing the pleas of activist shareholder Umberto Fedeli to repurchase its Tarp shares from private investors. It has to choose between paying higher dividends or a costly capital raise.

Viable restructuring alternatives to bank holding company debt do exist and will open the door to conventional M&A options or attract fresh equity.

Unable to find an acquisition or other expansion opportunity that it likes, Trinity Bank in Fort Worth, Texas, will pay a special onetime dividend to shareholders.