Bank of America has lost more than $60 billion on its acquisition of Countrywide, including the cost of last week's big settlement with the Justice Department. But its issues are hardly over. The pain will continue for years as it has hundreds of thousands of delinquent, unsellable mortgage loans to work through.

New York Attorney General Eric T. Schneiderman's office filed a lawsuit Wednesday against four companies and their principals for operating a fraudulent loan modification scam.

Mid Penn Bancorp in Millersburg, Pa., has agreed to buy Phoenix Bancorp in Minersville, Pa.

LendingClub, the platform that allows borrowers to bypass traditional banks by connecting directly to lenders via the Internet, filed for a $500 million initial public offering in the U.S.

Inc. magazine has ranked Autoscribe Corp., based in Gaithersburg, Md., on its 33rd annual Inc. 500|5000 list, a ranking of the nation's fastest-growing private companies. Autoscribe is an affiliate member of ACA International.

Premara Financial in Charlotte, N.C., has named an interim president after the abrupt departure of its long-time leader.

Allowing the Federal Home Loan Bank System to invest in mortgage-backed securities is just one of many ideas being pitched to policymakers to revive the private-label market.

First Business Financial Services in Madison, Wis., is relying on a subordinated debt sale to foot the cash portion of its pending acquisition.

The Federal Housing Administration is changing a pair of rules on interest rate payments and resets to align with the Consumer Financial Protection Bureau's qualified mortgage rule.

Corinthian Colleges Inc., the troubled for-profit higher-education company that will be closing operations under a deal with the U.S. Education Department, is now involved in settlement talks concerning alleged illegal debt collections.

Josh Rossi is best known for starting the first Satoshi Square, a gathering of Bitcoin enthusiasts who trade the virtual currency for cash in New York City's Union Square, in 2013. He has since brought his ideas to new companies and new parts of the world.

Boards at community banks are being asked to have greater oversight of cybersecurity issues as data breaches continue to mount. The challenge is balancing such work with other demands.

Consumers indicated in August that they are more optimistic about the state of the economy even as they show concerns about the prospects for wage growth, according to the The Conference Board.

Premier Financial in Huntington, W.Va., is planning to redeem preferred stock tied to the Troubled Asset Relief Program.

Congress should impose national data security standards on retailers in order to ward off cyberattacks and ensure the safekeeping of sensitive customer information, according to Carrie Hunt of the National Association of Federal Credit Unions.

The $184 billion-asset company said in a press release Wednesday that Ricky Brown had taken the reins at Branch Bank & Trust.

Flagstar Bancorp is negotiating with the Consumer Financial Protection Bureau over potential violations in the Troy, Mich., company's default servicing business.

Westpac New Zealand is upgrading its data centers, security infrastructure and software development as it seeks to quickly create products for mobile, wearable and other devices.

Citigroup will pay a $1.85 million fine and return more than $638,000 to customers after its securities unit failed to get the best prices for clients in about 22,000 trades over more than three years, the Financial Industry Regulatory Authority said Tuesday.