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Stocks rose after the U.S. economy added more jobs than expected last month, driving the Nasdaq Composite to an 11-year high and pushing the Dow to its highest close in nearly four years.

Cape Bancorp Inc. in Cape May Court House, N.J., swung to a $1.6 million loss in the fourth quarter after taking $1 million writedown on foreclosed properties and an additional $1.1 million writedown on its investment in pooled trust-preferred securities that have lost much of their value.

Regulators, particularly the OCC, are hitting banks with consent orders for erroneous accounting for troubled-debt restructurings. The issue, based on new FASB standards, is becoming a catalyst for higher loan-loss provisions and lower profit.

A former housing counselor from New York has been sentenced to six years in prison for defrauding homeowners who sought her help in obtaining a mortgage modification, authorities said.

Solid loan and deposit growth powered Bancorp of New Jersey Inc. to its most profitable quarter in its six-year history, the company said Friday.

Barbara Desoer, the president of Bank of America's home loans division and once considered a candidate for CEO of the entire company, will retire at the end of February, B of A said Friday.

The Consumer Financial Protection Bureau has vowed to protect privileged information collected during the supervision process, but banks are nervous that might not be enough.

New England's largest bank could not have picked a better day to launch its latest marketing campaign.

Comedian and actor George Lopez this week became the latest celebrity to embrace the prepaid card business, through an endorsement deal with Mango Financial Inc.

The former president and chief executive at the failed Orion Bank in Naples, Fla., faces up to 15 years in federal prison after pleading guilty to lying to examiners about the bank’s health.

Howard Milstein and other members of the family that owns Emigrant have hired Barclays Capital to explore selling its 33 branches or online banking operation. Emigrant still has to repay its federal aid and has been weighed down by problem loans.

Driven by strong growth in both interest and fee income, Territorial Bancorp Inc. in Honolulu reported a 6% increase in its fourth-quarter earnings, to $3.4 million.

New York Attorney General Eric T. Schneiderman sued three of the nation's largest banks over a private national mortgage electronic registry system, claiming it has resulted in a wide range of deceptive and fraudulent foreclosure filings.

The family that owns consumer products giant S.C. Johnson & Son Inc. has won approval from the Federal Reserve Board to invest $235 million in its ailing namesake bank.

While Bank of America is shedding mortgage servicing rights en masse, dozens of small- to medium-sized mortgage firms have been contemplating keeping the new MSRs they create instead of selling their loans.

The nation's largest banks are pulling back from buying mortgages, with grim implication for small originators and the housing market.

Continuing its string of insurance agency deals, BB&T Corp. announced Friday that it is buying the life and property and casualty insurance divisions of Crump Group Inc. for about $570 million in cash.

The next time somebody challenges Citigroup CEO Vikram Pandit, he should send them to the dictionary to look up the definition of his name.

The Senate approved an amendment to stop Fannie and Freddie from paying bonuses and a separate measure that would require members of Congress to disclose the terms of their mortgages.