Chicago Mayor Rahm Emanuel on Tuesday shot down the idea of using eminent domain to seize underwater mortgages, the Chicago Tribune reported.

Mackinac Financial (MFNC) in Manistique, Mich., has raised roughly $11.6 million through a rights offering and the sale of common stock to an investor.

Wells Fargo will pay more than $6.5 million to settle claims with the Securities and Exchange Commission that its brokerage firm and a former executive did not properly disclose risks related to investments tied to mortgage-backed securities.

The country's fastest-growing servicer reports a solid second-quarter profit, strong operational metrics and plans for an even more ambitious expansion.

Bank of America announced the nationwide launch of its online rewards system, BankAmeriDeals.

Lawmakers have set $10 billion in assets as a dividing line between small and large banks for regulatory purposes. That's left bankers at Trustmark's Gerard Host and other institutions that are approaching the cutoff with a choice: Deliberately limit their size or pursue acquisitions to solidly cross the threshold.

The smattering of data showing an upsurge in lending activity now includes the statistical reporting required under the Community Reinvestment Act.

National Penn Bancshares in Boyertown, Pa., has completed restructuring $400 million of fixed-rate borrowings with the Federal Home Loan Bank of Pittsburgh to reduce interest expense and expand its net interest margin.

Money funds and non-deposit-taking consumer lenders should be chartered as limited purpose banks by the Fed and CFPB, respectively. This will reduce systemic risk, improve consistency and efficiency, and protect consumers.

Four years after filing the largest bankruptcy in U.S. history amid soured real estate bets, Lehman Brothers is still in the property business, wagering it can recover about $12.9 billion from mortgages and assets around the globe.

Six North Carolina businessmen and banking veterans made up the group that raised $13 million to buy First Carolina State Bank in Rocky Mount, N.C., from Capitol Bancorp (CRBC).

A personal touch can help a bank stand out, but providing great service is a challenge in our increasingly digital society. How do you develop meaningful (and lasting) relationships with your customers?

In its ongoing effort to distinguish itself as a specialty lender, the Jacksonville, Fla., company announced Monday that it has established a golf lending division and that it has hired a team of lenders away from TCF Financial (TCB) to run it.

Citigroup Inc. named Vikram Bhardwaj as Asia-Pacific head of consumer investment banking, according to a memo obtained by Bloomberg News.

Wells Fargo is expanding loans to customers of General Motors, threatening to take business from Ally Financial as the bailed-out auto lender seeks a turnaround.

Almost two-thirds of small businesses in the Federal Reserve Bank of New York's region that sought credit received some form of financing, according to a poll conducted by the bank during the second quarter.

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Alliance Data Systems (ADS) has signed a long-term agreement to provide private-label credit card services for retailer Stage Stores (SSI).

This year's drought could cause many farmers to default on ag loans, particularly those tied to livestock. For banks with high concentrations of ag loans, the drought poses the first major credit challenge since the financial crisis.

GE Capital Retail Bank has reached a long-term agreement with Wal-Mart Stores' (WMT) Sam's Club to continue providing the credit card program to the Sam's Club's Advantage and Business members.