JPMorgan Chase's Eileen Serra is giving up her CEO title (for a very interesting reason); CIT Group's Ellen Alemany is getting to work sooner than expected with a big housecleaning; and Meredith Whitney resurfaces with an insurance company. Plus, inclusion confusion, the "Person of the Year" (it's a woman for the first time in 29 years), and Saudi Arabia.

Strong financials were an important consideration behind the $1 billion merger, but it often takes more than good numbers to compel Korean-American banks to merge. Hanmi Financial found that out the hard way after its unsolicited bid for BBCN largely fell on deaf ears.

A large investor in 1st Source is planning to sell nearly $37 million of the South Bend, Ind., company’s stock.

JPMorgan Chase has shuffled three top executives in credit cards, mortgages and mortgage servicing.

The $1.1 billion-asset company said in a press release Thursday that Thomas Vertin will also become its president on Jan. 1.

Southwest Bancorp in Stillwater, Okla., has cut ties with its chief banking officer and promoted three executives.

The best commercial lenders take enough interest in their clients to speak up when they see credit as not serving the long-term success of a company.

Sections of a new proposal from Missouri Attorney General Chris Koster to curb debt collection practices he believes are abusive has the support of the Missouri Collectors Association.

Angus Deaton's efforts to improve understanding of poverty have helped open the door to financial services firms meeting the market demands of the world's poor.

Bank of America passed the Federal Reserve's annual stress test after resubmitting its capital plan and persuading regulators it improved internal controls and loss and revenue models.

First Tennessee Bank has established a partnership with the nonprofit Operation Hope to offer free financial literacy workshops and counseling sessions in several branches.

Eileen Serra, 61, the chief executive of the Chase Card Services unit, will step down in January and become an adviser to the company on growth initiatives, according to a memo Wednesday from Gordon Smith, JPMorgan's CEO of consumer and community banking.

Eileen Serra is stepping down as chief executive officer of JPMorgan Chase's credit-card business and will be replaced by Kevin Watters, who is currently head of mortgage banking.

The $30.2 million-asset Citizens, in Hartford, Ky., agreed to pay a 1.77% premium for the branch's average daily balance of assumed deposits for the ten days prior to the closing date.

Carolina Financial in Charleston, S.C., plans to raise $30 million in a public offering of its common stock.

Bank of Lancaster in Kilmarnock, Va. has promoted Susan Pittman to the newly created position of chief lending officer.

Umpqua Holdings wants other banks to join its recently announced innovation lab in Silicon Valley. The company says if smaller banks pool resources they can compete with the deep pockets of the big banks in disruption.

Patriot National once suffered seven straight years of losses. Again profitable, the company is looking to use capital to buy back leased branches, improve technology and make the first acquisition in its 21-year history.