Americas

Net income at the Toronto-based bank dipped by double digits during the fiscal third quarter. But the company's U.S. operations, including City National Bank in Los Angeles, fared better.

First elected to the House in 1992, Rep. Carolyn Maloney has played a key role in passing major financial legislation, including the 2009 "bill of rights" for credit card consumers. Rep. Jerry Nadler, another House veteran, won their intraparty clash forced by redistricting.

The Canadian banking giant reported a 22% increase in loan balances, with the largest contribution coming from the United States. The surge in lending helped to compensate for weakness in debt and equity issuances.

In the prohibition order, the National Credit Union Administration said the employee allowed a member to overdraft an account by more than $74,000.

"Voluntary changes are not enough to assure that our lowest-income consumers will be protected in the long run," writes the Democratic House member from New York City.

Under the leadership of new CEO Rob Holmes, the Dallas-based company has embarked upon a top-to-bottom transformation to become the "flagship financial services firm" of the Lone Star State. But can Holmes make progress quickly enough to satisfy impatient investors?

Kent Oram will step down on Dec. 31 after more than 15 years as president and chief executive of ICCU.

The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

The buyer, which is based in North Carolina, said buying GrandSouth Bancorp would give it more than $1 billion of assets and eight branches in South Carolina.

Properly designed public banks would be safer than private banks while promoting economic growth.