The Department of Justice announced a $4.9 million settlement Tuesday with CommerceWest Bank of Irvine, Calif., over charges that the bank knowingly worked with a third-party processor making illegal withdrawals from consumer bank accounts.

Credit Suisse Group AG's appointment of Tidjane Thiam as chief executive officer boosted shareholder expectations that the firm will shift away from investment banking toward its more profitable money management businesses.

Telecommuting isn't new for front-office loan officers, but in an increasingly competitive hiring environment, some mortgage lenders now let their underwriters work from home, too.

Banks can expect to incur higher costs in several areas during the implementation of a settlement agreement to improve the accuracy of credit reports. But they might benefit in the long run by getting better information on borrowers.

Thomas Depping would have been content to keep making small-business loans through his Houston-area bank, but regulatory pressure led him to give up his charter and form a nonbank lender with the same business model.

Lucrative sale of a subprime lending unit. Big credit card deal. Clear business plan. It's looking like a good year for Citi — provided it passes the CCAR stress test this week and fills a key executive post.

The Federal Trade Commission has returned more than $2.4 million in refunds to some 100 consumers harmed by the Premier Precious Metals scheme, which bilked millions of dollars from investors, including many senior citizens.

Two private debt collection agencies that had contracts to collect delinquent student loans for the U.S. Department of Education have announced layoff plans prompted by the federal agency ending collection contracts with some vendors.

Debt buyer PRA Group has expanded its Norfolk, Va. headquarters for the second time in just more than a year.

KeyCorp has been getting back into full-scale residential lending as part of a broader strategy to deepen client relationships. The market's shift toward purchase activity and defined mortgage rules also played a role.

Northern Trust in Chicago has appointed Donald Thompson, the recently ousted president and chief executive of McDonald's, to its board of directors.

Few would dispute that the U.S. ought to move to a faster payment system. But the hurdles to modernizing the infrastructure are daunting, said participants in a panel at this week's Retail Banking 2015 conference.

Tiered regulation could bring about a number of useful changes for regional banks, including a more customized approach to determining capital adequacy and simplified resolution planning requirements.

Reverse mortgage originators have not been immune to the wave of regulatory and compliance changes sweeping the mortgage industry over the past few years.

Great Western Bancorp in Sioux Falls, S.D., plans to record a spike in credit costs during the first quarter as it deals with issues tied to certain commercial loans.

Western Alliance Bancorp. in Phoenix has agreed to buy Bridge Capital Holdings in San Jose, Calif.

WASHINGTON — The Consumer Financial Protection Bureau appears ready to act on rules limiting arbitration clauses as the bureau continues to argue such agreements harm consumers.

The Consumer Financial Protection Bureau's second arbitration study indicates the bureau's intent to regulate financial institutions' inclusion of clauses that prevent customers from suing.

U.S. Bank and Old National Bancorp were the only two American bank companies named to the Ethisphere Institute's 2015 World's Most Ethical Companies list.