Fierce competition for customers has forced card issuers to sharpen their game, and the result for customers is better service, favorable rates and more generous rewards programs, according to J.D. Power & Associates.

If the networks don't voluntarily implement more reasonable pricing, merchants will steer consumers to cheaper alternatives and there will soon be nothing left to fight about.

The number of homeowners who owe more on their mortgages than their houses are worth fell by about 400,000 in the second quarter as prices rose and properties were lost to foreclosure, Zillow said.

The banking SuperPAC is eyeing seven candidates — four Republicans and three Democrats — as it decides what two races to support in late September or early October. Following is the short list of who is under consideration.

BEAVERTON, Ore. – The $550-million Rivermark Community Credit Union said it plans to close branches in Clackamas and Newberg, Ore., and will focus on encouraging members to use mobile and online solutions for transactions.

Malvern Federal Bancorp (MLVF) in Paoli, Pa., will raise up to roughly $36.4 million by converting to a 100% stock-owned company from a mutual holding company.

In an effort to make up for some of the shelf space it could soon be losing at big-box retailers, Green Dot (GDOT) is partnering with student lender Sallie Mae to market a prepaid card to students who do not have a traditional bank account.

Investor and director Steven Sugarman will now share CEO duties with Gregory Mitchell at First PacTrust of Irvine, Calif. The company announced a bank deal Wednesday, and Sugarman is expected to take lead on nonbank deals.

BMO Harris Bank in Chicago has tapped a former SunTrust Banks (STI) executive to help steer its growth in the car-dealer lending business.

Industry observers are advising more community banks with trust-preferred securities to raise capital now before Basel III puts them at odds with regulators.

JPMorgan Chase and the Living Social website teamed up to honor 12 small businesses, including a garment maker for the medical industry.

Broadway Financial's (BYFC) woes continued as the Los Angeles company said that its financial results for 2011 and the first quarter of this year will have to be revised and could no longer be trusted.

PayPal's point of sale mobile payment system combines over half a decade of initiatives — and a few notable setbacks along the way.

Preferred Bank (PFBC) in Los Angeles has added the role of president to the responsibilities of its chief operating officer, Wellington Chen.

Fannie Mae told lenders that it's tightening some of its qualification standards for people buying homes or refinancing loans.

The five largest mortgage servicers are suddenly eager to provide relief to distressed homeowners, but after years refusing to modify loans or reduce principal, they are concerned that borrowers will ignore their solicitations.

Wells Fargo (WFC) said competition in the mortgage market is "essential" and that its control of 1 in 3 U.S. mortgages is the result of doing a better job than rivals.

Megabanks provide useful, all-in-one services to their big business customers, but corporate America has some reservations about them. Here's what bankers and corporate treasurers had to say about their complex relationships and whether big banks are necessary.

First PacTrust Bancorp (BANC) has landed another deal and a co-chief executive.

Qualified nonbanks should be able to issue credit cards. This has only rarely been possible up to now – a situation that has warped the industry's structure, giving banks undeserved dominance.