A man accused of running an illegal collection business pleaded guilty Friday to felony charges of mail fraud and tax evasion at federal court.

Consumer borrowing rose in November for a second consecutive month, led by an increase in non-revolving credit - including student loans held by the government, according to a Federal Reserve G.19 report on consumer credit released Friday.

As the epicenter of bank failures in 2010, Florida gave 2011 its first casualty. Florida was home to 18% of the 157 failures last year, with 29. Following a two-week hiatus, two banks failed on the first Friday of the new year.

First Citizens BancShares in Raleigh, N.C., has finally combined its two main subsidiaries. The $21 billion-asset company said IronStone Bank, its thrift, merged into First Citizens Bank, a state-chartered bank, on Friday.

As the epicenter of bank failures in 2010, Florida gave 2011 its first casualty. Florida was home to 18% of the 157 failures last year, with 29. Following a two-week hiatus, two banks failed on the first Friday of the new year.

WASHINGTON — Federal Reserve Board Chairman Ben Bernanke on Friday reiterated the importance of community banks to the economy and the need to ensure regulatory burdens faced by small banks are minimized.

Frequent bank investor Thomas Brown has taken a stake in Mercantile Bank Corp. of Grand Rapids, Mich.

Two senior officers tied to a fraud that eventually led to Sterling Financial Corp.'s forced sale have settled a civil lawsuit with the Securities and Exchange Commission.

In the midst of the largest Korean-American bank merger, Center Financial Corp. has "terminated" its chief executive.

It's unlikely that SunTrust Bank wanted to become a part owner of a small North Carolina bank when it made a $15 million loan nearly three years ago.

It's unlikely that SunTrust Bank wanted to become a part owner of a small North Carolina bank when it made a $15 million loan nearly three years ago.

Bank fraud comes with a heavy price tag to financial institutions and their customers. As the nature of banking changes, the methods of combating fraud must also evolve.

Yakima Valley Credit Union in Yakima, Wash., said Wednesday that it has signed a nonbinding letter of intent to merge with Catholic Credit Union to create a credit union with almost $500 million in assets and serving 50,000 members.

City County Credit Union in Fort Lauderdale, Fla., plans to double its coverage in the state by expanding into nine nearby counties.

First BanCorp in San Juan, Puerto Rico, has reduced its shares outstanding to 21 million after a 1-for-15 reverse stock split.

Tower Bancorp Inc. of Harrisburg, Pa., said Wednesday it may cost up to $5.6 million to shut down the former mortgage division of First Chester County Corp., a bank Tower bought in December.

The Federal Reserve Board reached written agreements with five community banks Thursday.

Recently released terms of the Small Business Lending Fund are fueling fears that may discourage participation in the program.

CapitalSource Inc. may not be drowning, but that isn't stopping the Chevy Chase, Md., finance company from looking for help.