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Bank of America will post a $600 million pretax writedown in the fourth quarter as it redeems $2 billion of trust preferred securities tied to its 2009 acquisition of Merrill Lynch.

"The allegations of discrimination and predatory practices raised by the reporting are obviously very concerning to the bureau," a CFPB official told American Banker.

New York Community Bancorp in Westbury has finished the balance sheet repositioning it previewed as part of its agreement to buy Astoria Financial in Lake Success, N.Y.

In a closely-watched Colorado case that could set a precedent for financial institutions seeking to serve marijuana retailers, a judge has encouraged both parties to consider a mellow resolution.

The $390.1 million-asset company said in a press release Tuesday that it has agreed to sell common stock to institutional investors led by Patriot Financial Partners.

The Consumer Financial Protection Bureau is charging the law firm Frederick J. Hanna & Associates $3.1 million over allegations that it illegally filed debt collection lawsuits against consumers.

As credit unions and banks weigh whether to serve legal marijuana-related businesses (MRBs), two authorities on the subject point out some common misconceptions about legal marijuana-related businesses that financial institutions need to consider first.

It's hard to come by hard data on consumers actually using mobile wallets to pay in stores, but these consumers do exist.

If dead men tell no tales, that makes identity theft of deceased account holders all the harder for card issuers to combat, particularly when the perpetrators are bank insiders.