WASHINGTON — The Department of Labor said Wednesday it ordered Bank of America Corp. to pay $930,000 to an employee improperly fired in a whistleblower case.

Capital One Financial Corp. Chairman and Chief Executive Richard Fairbank says he believes the credit card business is headed for significant consolidation and that his company intends to be one of the industry's "endgame players."

American Banker editors discuss accusations that big banks wrongfully received $6 billion in mortgage insurance premiums.

Massive consolidation is inevitable, say the pundits, but the heads of prospective buyers say they can wait out reluctant sellers and the uncertain economy.

The Securities and Exchange Commission is reviewing a regulatory exemption for mortgage real-estate investment trusts. If the SEC decides to lift the exemption, mortgage REITs could become unprofitable, and an important source of liquidity for the housing market could dry up, analysts say.

The American Bankers Association is calling on the Treasury Department to provide more details about rejected applications for the Small Business Lending Fund.

The clock is running down on investors looking to sue the nation's biggest banks over now-soured mortgage-backed securities.

The Federal Deposit Insurance Corp. plans to close its temporary suburban Chicago office next September, nine months earlier than expected.

John Koelmel, head of fast-growing First Niagara, found himself literally and figuratively in the middle of the jobs debate.

After several weeks of application declines, it appears that low interest rates are finally causing an increase in new business.

An interview last week with Federal Reserve Bank of Kansas City President Tom Hoenig yielded more than we could fit into our story on his plan to tighten up the federal safety net. Here's what else was on the regulator's mind.

After 38 years with the Fed, Tom Hoenig is convinced less complexity is the key to taming systemic risk.

Sixty-one small banks will receive a total of $608 million in the latest round of funding from the Small Business Lending Fund, the Treasury Department said Wednesday.

Simone Lagomarsino reflects on the divisive debate on whether credit unions should be allowed to raise capital. Backers view such a move as a necessity for struggling credit unions, while detractors worry that it could cost the industry its tax-exempt status.

Simone Lagomarsino took the helm of Heritage Oaks in Paso Robles, Calif., on Monday. The veteran banker has a long track record of selling banks, but says she is here to build value.

Merchant-funded rewards provider BillShrink Inc. is expected to announce Wednesday it has changed its name to Truaxis Inc.

Fiserv said Wednesday that it has completed its acquisition of the New York bank technology and payments vendor CashEdge.

Despite an increase in the number of cyber attacks, losses to financial institutions and their customers have fallen over the last 18 months.

In what would be its first whole-bank acquisition since 2008, Prosperity Bancshares Inc. in Houston has announced plans to buy the $72 million-asset Texas Bankers Inc. in Austin.

Here is a common scenario. A bank executive develops a new product, maybe a fee-generation concept. Properly following procedure, he consults the compliance officer, who performs a check-the-box review and signs off — but raises a "fairness" concern because the product is controversial with regulators and consumer groups.