New Citigroup chief executive Michael Corbat has moved quickly to pare costs with 11,000 layoffs and a $1 billion charge. The market cheered, but longer term the question remains open whether Citi can shrink its way to prosperity.

American Express (AXP) CEO Ken Chenault said Tuesday that the company's Bluebird prepaid card, issued with Wal-Mart, is helping it expand beyond its traditional customer base.

Discover Financial Services is moving its fiscal year.

The House Democratic Caucus formally elected Rep. Maxine Waters Tuesday as ranking member for the House Financial Services Committee.

First Horizon National (FHN) is adequately reserved to cover all buyback requests from Fannie Mae and Freddie Mac, Bryan Jordan, its president and chief executive, said Tuesday.

JPMorgan Chase's (JPM) mortgage business has remained strong this quarter, outgoing chief financial officer Doug Braunstein said Tuesday.

U.S. Bancorp will raise reserves for bad mortgages in response to a directive from Freddie Mac, CEO Richard Davis said. He also foresees a "difficult" next year in banking, and is cautious on M&A.

The Senate passed an amendment Monday that would tighten a law barring lenders from charging members of the military more than 36% interest on their loans.

Alliance Bankshares' sale to WashingtonFirst Bankshares has been approved by regulators and endorsed by proxy advisory firms, but now comes the hard part: reaching its far-flung investor base.

The FDIC's third-quarter report on the health of the industry shows lending climbed upward, but reduced loss provisions and sales of existing assets are what boosted earnings.

Wells Fargo is still evaluating potential acquisitions, but the opportunities presented by the Euro crisis may no longer be available, according to the company's CEO.

Small banks have spent years shrinking their residential development portfolios, but a rebound in housing starts could bring more lenders back to that market.

When industries and business environments evolve, the best and brightest people and organizations in that industry will as well.

SunTrust Banks (STI) expects its heightened volume of mortgage refinancings to continue next year, even while other banks and industry analysts are projecting a slowdown.

Bank of America Corp. Chief Executive Officer Brian T. Moynihan said the firm has plenty of capital and he's confident it will pass the next U.S. stress tests.

The $630 million-asset company has agreed to buy Potomac Mortgage Group in northern Virginia for $19 million in cash and stock.

While there are worries that an eventual rise in interest rates will hurt real estate prices, experts in multifamily housing also believe that the market's fundamentals are solid.

Heritage Oaks Bancorp (HEOP) in Paso Robles, Calif., has appointed a longtime financial manager as its chief financial officer.

Just when you thought it couldn't get any nastier between banks and credit unions, the credit unions are opposing a TAG extension that many small banks have been pushing for.