It all seemed so simple. The cause of the financial crisis was that private label securitizers of subprime mortgage loans weren't required to "have enough skin in the game," so Dodd-Frank would require them to retain 5% of the risk.

The bank said in a press release that it would use the proceeds to further strengthen its capital position, support growth strategies and for general corporate purposes.

ICBA says fair-lending actions overstep legal authority by focusing outside a bank's CRA assessment boundaries.

In 2008 the Democratic nominee raised far more money from Wall Street than John McCain. But for 2012, the financial industry is favoring Mitt Romney over the incumbent president.

Community bankers say they'll continue offering free checking for the foreseeable future, even if they're not entirely happy about it. If they followed the big banks by adding fees or changing terms, "we'd lose the accounts," says one local banker.

U.S. Bancorp will add more than 300 employees in St. Louis by the end of the year largely to support its growth of mortgage lending in the area, according to a report in the Minneapolis/St. Paul Business Journal.

Verizon Wireless, AT&T Inc. and T- Mobile USA plan to invest more than $100 million in their joint venture that lets consumers pay for goods with mobile phones, people with knowledge of the project said.

The Western Union Co. announced Monday that it has formed a new division that will develop new payments products and services for its consumer and business clients.

Consumers have filed 7,923 lawsuits against collection agencies and creditors this year through August 15, a record-setting pace that easily tops the 7,169 lawsuits filed through the year-ago period.

BARSTOW, Calif. – Alaska USA FCU is building a branch inside a Vons supermarket to be closer to its members.

MINNETONKA, Minn. – U.S. FCU has agreed to sell its 30,000-square-foot office building on Wayzata Blvd. for $2.7 million.

The Government National Mortgage Association said Friday that it is expanding the parameters for loans to be repuchased from its trusts to include those that have successfully completed a three-month trial payment period.

Not only are residential loan applications booming, but nonbank lenders increasingly are tapping their warehouse providers for additional credit.

Rates for borrowing and lending securities in the repurchase-agreement market rose Friday and investors sought to extend maturities on concern power outages and closings of mass transit would keep traders home after Hurricane Irene struck.

Visa and other financial companies are taking steps to prevent possible disruptions from Hurricane Irene.

The Federal Reserve Board said Friday it will hold three public hearings on Capital One Financial Corp.'s proposed $9 billion purchase of online bank ING Direct USA.

The $3.4 billion-asset company announced last week that it paid $600,000 for a ham — the grand champion ham at the 48th Kentucky Country Ham Auction, an annual charity event.

With the Eastern Seaboard bracing Friday for the arrival of Hurricane Irene, the FDIC told banks to look in the not-too-distant past for how to deal with damaging storms.

Technology company Tio Networks Corp. has developed software for "reverse ATMs" that collect money from lower-income customers instead of dispensing it.

PVF Capital Corp. in Solon, Ohio, reported a loss of $2.6 million for its fiscal fourth quarter, a slight improvement from a year earlier.