PNC Financial Services Group (PNC) will close 10 branches in its hometown of Pittsburgh as part of a planned $700 million in expense cuts.

Low yields and the short-term impact of a strategy shift weighed on Pacific Mercantile Bancorp (PMBC) in the first quarter.

The cost of shedding troubled loans weighed on First Mariner Bancorp (FMAR) in the first quarter, with the $1.3 billion-asset parent of First Mariner Bank in Baltimore losing $2.3 million in the three months that ended March 31.

A modified version of Ed DeMarco’s securities-based model for housing finance reform could promote an active market for risk-sharing arrangements and further reduce systemic risk by distributing credit risk broadly.

HSBC will eliminate as many as 14,000 more jobs as Chief Executive Officer Stuart Gulliver set out plans to cut an additional $3 billion of costs as he tries to revive profitability.

State regulators seized a third bank unit of Capitol Bancorp., $31.6 million-asset Central Arizona Bank in Scottsdale, Ariz, in a rare Tuesday failure.

ATLANTA – Despite the hype around mobile, bricks and mortar still play a key role in financial consumer satisfaction and retention, according to a recent survey.

Citigroup (NYSE:C) is selling its Brazilian credit card and consumer finance business to Banco Itaú Unibanco.

Michael Harrington will succeed current CFO Drew Hostetter, who plans retire at the end of the year, the $18 billion-asset company said Tuesday. Hostetter has held the position since 1996.

Independent Bank Corp. (INDB) agreed to acquire Mayflower Bancorp (MFLR) in its second deal for a Massachusetts company in the past year.

Popular in Puerto Rico is selling another book of loans as part of its attack on credit problems. The multimillion-dollar hit from the sale will be offset by a gain from the IPO of a payments processor.

A preference for greater simplicity in consumer banking products is one legacy of the financial meltdown, but the challenge for banks is delivering on the promise.

Bill Smith, the head of Capital City Bank Group in Tallashassee, Fla., speaks for many bankers when he says he's ready to start buying banks after eight years on the sidelines -- but not for another 18 months. Or more.

Three banks are among the companies that employ the highest number of underbanked Americans, according to a study released Tuesday.

Community Bank of Bergen County in Maywood, N.J., has sold a $3.2 million portfolio of nonperforming loans.

Ally Financial said Tuesday that it has settled all claims with its subprime mortgage unit Residential Capital and between all third parties and ResCap excluding securities claims brought by the Federal Housing Finance Agency and the Federal Deposit Insurance Corp.

Lender Processing Services (LPS) has agreed to pay $14 million to settle claims the company deceived investors about its business practices.

Prepaid cards have been at the heart of several data breaches in recent years because their traits can make them easier for fraudsters to exploit.

Iberiabank Corp. in Lafayette, La., has named a new chief credit officer.

Wells Fargo and insurer QBE have agreed to pay $19.3 million to settle claims that they overcharged homeowners in Florida on lender-placed insurance policies.