The former chairman and chief executive of Summit Bank in Burlington, Wash., on Wednesday pleaded guilty to hiding millions of dollars in losses from past-due loans.

Wells Fargo (WFC) is laying off 2,300 mortgage jobs nationwide as the result of flagging demand for mortgage refinancing.

The Federal Reserve Board said it will appeal a judge's decision invalidating the central bank's interchange fee cap, while both the Fed and merchant groups asked for more time before the lower court ruling takes effect.

The group unveiled a new white paper Wednesday that outlines two alternative proposals for integrating affordable housing into the larger mortgage finance reform debate.

Despite better-than-expected returns so far, industry observers believe that the Treasury Department will take larger haircuts at is unloads less desirable stakes in banks.

Mortgage servicing issues continue to be a significant problem despite a renewed focus on the area in the wake of the foreclosure crisis, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Sen. Elizabeth Warren, D-Mass., is pressuring the Department of Justice for more details related to payments made to the Federal Housing Administration as part of the $25 billion mortgage servicing settlement announced last year.

The Consumer Financial Protection Bureau on Tuesday sued Morgan Drexen Inc., of Costa Mesa, Calif., alleging it illegally charged more than 22,000 customers millions of dollars in upfront fees to help resolve outstanding debts.

Global mobile marketer Jesta Digital LLC, will provide refunds to a large number of consumers and pay an additional $1.2 million to the Federal Trade Commission as part of a settlement. The FTC alleged that Jesta crammed unwanted charges onto consumers’ cell phone bills.

FPB Financial in Port St. Lucie, Fla., has declared a 3-for-1 stock split in an effort to bolster trading activity.

A pair of prominent investors are pursuing opposing strategies in their bank investments: Warren Buffett is buying, while David Einhorn is cutting back.

VantageSouth Bancshares in Raleigh, N.C., plans to sell up to $50 million of preferred stock to leave the Troubled Asset Relief Program.

Alex Dunlap, the former director of debt sales for Wells Fargo, has left the bank for Flock Specialty Finance. His move comes after Wells stopped selling unpaid consumer loans to outside buyers and as regulators crack down on banks' debt collection practices.

More jobs and easier loan terms will boost demand for new mortgages in the second half of this year as homebuyers shrug off higher interest rates, according to a Fannie Mae forecast due later today.

Personalized interactions and streamlined online and mobile services distinguished the banks at the top of the heap in Temkin Group's customer service ratings.

CHICOPEE, Mass. – Alden Credit Union has now opened its third branch over the past four months.

MEDFORD, Ore. – The Internet and online banking may be affecting branch networks, but one person says that branch locations are still critically important – especially when consumers are searching online for a new financial institution.

The Consumer Financial Protection Bureau said Tuesday that it is suing Morgan Drexen, a debt-relief provider, for false marketing a month after the same company filed suit against the CFPB.

The meaning of the term "underbanked" has evolved considerably over the last 30 years, and its definition today makes little sense.

FNBH desperately needs capital after regulators shot down a plan that had a hefty percentage of debt. The company is hoping an equity infusion by a big investor will help it get on track.