The Federal Reserve on Tuesday ordered Morgan Stanley (MS) to review thousands of foreclosures conducted by Saxon Mortgage Services, a mortgage-servicing unit it sold this year, and said it would levy fines against the company.

Each new breach erodes consumer trust a bit more.

JPMorgan Chase & Co. (JPM) acknowledged Tuesday that it accidentally charged customers in some states twice for their debit card transactions.

Bank of America (BAC) has hired more than 90 small-business lenders in the Southeast as part of a broader push to add 1,000 relationship bankers throughout the country by the middle of the year.

David Wolman, author of "The End of Money," explains how banks can avoid being reduced to storage facilities as the world moves from paper bills and coins to mobile payments.

The Federal Housing Administration has made a last-minute attempt to soften new underwriting guidelines that penalized borrowers with ongoing credit disputes.

An April Fool's Day blog post by Movenbank founder Brett King poked fun at traditional banks, which have increasingly tried to lure customers to their branches with coffee, yoga classes and other untraditional perks.

Banks and credit unions are competing more than ever to try and win new business. Some are resurrecting giveaways and promotions to drum up clientele. Here are some notable promotions from recent years.

The Federal Trade Commission filed an injunction in federal court Monday charging that a web of defendants - including AMG Services Inc., several Internet-based lending companies and race car driver Scott Tucker - violated federal laws by deceiving consumers when providing and collecting on payday loans.

Surveys show that what Americans want most is a good job, no surprise there. Over the last few decades, the best jobs have been in the public sector and those requiring a college degree. But the productivity of a growing public sector already suffers from rising costs and diminishing returns that impede economic growth, as in Greece where public sector employment doubled in the last decade or in Spain, where youth unemployment is 50%.

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Until a few months ago, it was thought that 2012 might turn out to be a disaster year for loan production, one in which refinancings finally withered and home purchases continued to be anemic. But not anymore.

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Hudson Valley Holding Corp. (HVB) has completed the sale of $474 million in loans after it was required to reduce its concentrations in commercial real estate and classified loans.

American Express says it hired a new technology executive for the team that handles its digital wallet, Serve.

Celebrity-endorsed prepaid cards have become formidable rivals to banks, and it's not just because of their star power. Behind every big celeb is a seasoned banker.

Independent Bank Corp. (INDB) in Rockland, Mass,, has named Donna L. Abelli chairman of the company and its commercial banking unit, Rockland Trust Co.