Federal student loan defaults fell for the first time in several years but stayed far above levels reported before the recession, and there are questions about how the rates are calculated.

Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million.

Regulators fined U.S. Bank $57 million in penalties and restitution on Thursday to settle allegations that the $367 billion-asset bank unfairly marketed and charged add-on products to consumers.

Ripple Labs Inc., a venture capital-backed challenger to Western Union and Bitcoin, is for the first time gaining access to the U.S. banking system, and security hawks are raising eyebrows.

Jimmy John's, a sandwich-shop chain based in Champaign, Illinois, said a hacker infiltrated payment systems at about 216 of its locations and stole credit- and debit-card information.

Devising a risk mitigation plan — and the training and oversight necessary to implement it — requires lenders and servicers to conduct a scientific investigation into the policies, procedures and controls they already have in place.

The coming surge of servicemembers winding down their time in the military is expected to keep Veterans Affairs-backed mortgage lending an attractive opportunity for soldiers reestablishing their civilian lives.

First Citizens BancShares in Raleigh, N.C., will add three directors after it completes its acquisition of First Citizens Bancorp. in Columbia, S.C.

Citizens Financial Group, which held an initial public offering Wednesday, will hire 350 mortgage officers and soon announce a new treasury services head, the bank's chief executive told American Banker.

Nearly 40% of community banks have no plans to introduce new products and services in the next three years, according to a recent survey from the Federal Reserve and Conference of Bank Supervisors. Technology also remains a daunting challenge, along with regulatory changes and other business challenges.

A U.S. appellate court on Wednesday upheld a district court ruling that several defendants operated a scheme selling phony debt relief programs and mortgage assistance.

Add Citigroup to the growing list of banks that are offering all-digital, no-fee checking accounts.

The banking industry needs women to polish its tarnished image, insists Jill Castilla, the CEO at Citizens Bank of Edmond (Okla.).

While community bankers admit they are worried about Wal-Mart's latest move in financial services, the fact is that they have been successfully fending off disruption in financial services for years.

Wal-Mart Stores Inc.'s deal to distribute Green Dot Corp.'s mobile checking account, GoBank, signals a fundamental change in how both companies approach their audience.

Sunflower Financial is adding loans and growing in Denver. First Western Financial has tepid loan growth, but its prowess in private banking is enviable. Casual talks between their CEOs led them to the realization they could build on each other’s strengths.

Two small U.S. banks will begin offering an alternative remittance option. The development may signal a new era of competition in foreign exchange, but some critics see danger.

The powerful, well-tuned U.S. economy is picking up speed rapidly, with much of the power under our hood yet to be fully engaged, according to the latest report on small business credit trends from Experian and Moody's Analytics. The road to a full recovery, however, remains long.

A high percentage of Federal Housing Administration-insured loans are falling into the "higher priced" bucket due to a series of mortgage insurance hikes over the past several years.

Urban Partnership Bank in Chicago has lured a former Citibank executive out of retirement to lead its consumer banking operations.