Regulation

Two banks owned by Mercantile Bancorp in Quincy, Ill., were among five failures on Friday, one of the busiest nights for closures in recent weeks.

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The New York Senator is asking the FDIC to extend credit to a troubled ski resort after its primary lender failed.

The Indiana bank states that it has made major strides since deficiencies were identified more than a year ago.

Trade association chief says group polled members and decided allowing the coverage to continue would reduce uncertainty. But group's position still differs from ICBA's proposed five-year extension.

The California company received the FDIC's blessing to sell 11 loans covered by loss-sharing arrangements. Industry observers believe more sales could take place now that this deal has been cleared to take place.

The industry group claims a proposal to enact strict limits on how much credit exposure the largest banks can have to a major counterparty has significant design problems that could raise the cost of credit.

Discover Financial Services is launching additional perks to its flagship credit card under the Discover It tagline in a test involving about 10% of the U.S. market, including Chicago.

Two of the bank's top lobbyists have moved outside of traditional government relations to help guide policy for new consumer and wholesale products.

Poverty is the next big business in banking - but there are plenty of pitfalls before it becomes the next big success in banking.