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The real-time, person-to-person payments service launched last week by U.S. Bank and Bank of America with clearXchange will service as a litmus test for whether, and how much, consumers are willing to pay for quick money transfers.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

About a fifth of regional banks look at their efficiency ratios as they set executive compensation. Ongoing revenue challenges and investor pressure could push more boards to consider efficiency — or simple cost-cutting — to determine pay for high-level officers.

The real-time, person-to-person payments service launched last week by U.S. Bank and Bank of America with clearXchange will service as a litmus test for whether, and how much, consumers are willing to pay for quick money transfers.

Tidelands Bancshares in Mount Pleasant, S.C., has been declared in default on $18.3 million of trust-preferred securities.

Ginnie Mae needs more, and better-paid, staff to keep up with growing risks on nonbank seller/servicers, the watchdog agency head said.

The Education Department could ban colleges from including mandatory arbitration clauses in student enrollment agreements. The proposal is part of ongoing rule-making talks focused on creating a new debt relief process for defrauded student loan borrowers.

Risk is building in nonbank companies that are closely linked with regulated institutions but that have not faced the kind of stiff rules imposed on banks since the financial crisis.

Midwest BankCentre in Lemay, Mo., has agreed to buy Bremen Bank & Trust in Hazelwood, Mo.

Old National Bancorp in Evansville, Ind., has given its chief executive Bob Jones the added title of chairman.