Virgin Money is in pole position to buy Northern Rock ahead of the final bid deadline this week, people familiar with the situation said Monday.

TSYS announced Monday that it has purchased the merchant portfolio of Vanguard Payment Systems Inc.

The Federal Reserve usurps authority usually held by state regulators and fails a Colorado bank.

Capital One Financial Corp. is looking for another private-label credit card portfolio to buy, as it absorbs the U.S. card business of HSBC Bank USA and the Kohl's Corp. store card portfolio, CEO Richard Fairbank said on Thursday.

Two community banks in Georgia, and one in Florida, were closed late Friday at a cost of more than $130 million to the Federal Deposit Insurance Corp.

The Spanish bank will raise $1 billion and plow some of the money back into its fast-growing Santander Consumer arm.

Third-party processors like Total System Services Inc. and First Data Corp., who help run credit card systems for banks, are anticipating new business from the renewed activity in the credit card M&A market.

Jack Barnes, the president and chief executive at People's United Bank in Bridgeport, Conn., said Thursday that $28 billion-asset has submitted an application to the OCC to switch from a federally chartered thrift to a national bank as part of a broader plan to bulk up in commercial lending.

Royal Bank of Canada will continue to leverage its domestic retail franchise to build its global wealth-management presence, CEO Gordon Nixon said Friday.

Glacier Bancorp Inc. in Kalispell, Mont., said late Thursday that it intends to take a goodwill impairment charge of between $30 million and $35 million in the third quarter to reflect the recent decline in its market value.

Memphis bank's Jordan discusses how he will balance the two roles starting Jan. 1, distinguishes First Horizon's new debit fees from Bank of America's and sets sights on possible deals.

Capital One Financial reported a small increase in third-quarter profit Thursday as the bank's loan writeoffs and delinquencies continued to fall.

Ahead of an expected wave of corporate asset sales and capital raises, Sandler O'Neill & Partners has hired a team of investment bankers adept at advising troubled companies.

The price First Financial paid to acquire Freestar is likely to encourage more prospective sellers.

First Niagara Financial Group Inc. on Thursday reported third-quarter earnings that were weighed down by more than $16 million in costs from closing former Harleysville National Corp. branches in Pennsylvania.

Iberiabank Corp. has agreed to pay $2.5 million to settle claims the Lafayette, La., company illegally charged customers excessive overdraft fees.

M&T and Comerica defended the deal-related charges that hurt their third-quarter earnings, saying future fees and new business will make the costs a distant memory. PNC says its deals will pay off quickly, too.

Bank of America Corp., once the nation's largest residential mortgage lender, has dropped to third place, defeating the original purpose of its ill-fated takeover of Countrywide Financial Corp.