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CIT also plans to sell peripheral businesses to simplify its structure, less than three months after the close of its $3.4 billion deal for OneWest Bank.

"We are reaching that point in the cycle where credit risk is moving to the forefront" of regulatory concerns, Comptroller Thomas Curry warned Wednesday.

Community & Southern Holdings in Atlanta used private equity to buy 14 banks over six years. The time had come to become a seller and give those investors an opportunity to eventually cash out.

CIT Group Chief Executive Officer John Thain plans to retire and will be succeeded by board member Ellen R. Alemany as the lender seeks to sell assets to simplify operations.

American Express Co., the credit-card issuer grappling with the loss of its biggest partner, posted third- quarter profit that missed analysts' estimates as expenses rose and revenue declined.

Dime Community Bancshares in Brooklyn, N.Y., said that Kenneth Mahon will succeed Michael Devine as its president on Jan. 1.

WASHINGTON – After several false starts this year, the Senate is gearing up for a vote on a major cybersecurity bill backed by the banking industry.

The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.

Fulton Financial in Lancaster, Pa., reported a decrease in third-quarter profit, as expenses rose and income from fees and certain securities holdings declined.

WASHINGTON — After several false starts this year, the Senate is gearing up for a vote on a major cybersecurity bill backed by the banking industry.