Banking

Florida Credit Unions Shared Services announced a $602,776 patronage rebate and dividend to its participating CUs and stockholders in 2015.

A purported nonprofit that allegedly benefitted from a massive landline phone bill cramming operation has agreed to turn over most of its assets in order to settle Federal Trade Commission charges.

A Meridian, Miss.-based collection agency told the Lauderdale County (Miss.) Board of Supervisors last week that they have the expertise to collect $7.2 million in unpaid fines and fees owed to the county since 1984.

OneUnited Bank, a minority-owned institution in Boston, will close two branches in California, or about a quarter of its total branch network.

A Las Vegas-based collection agency has filed more than a thousand medical debt collection lawsuits against St. Louis area residents since the end of 2014.

The idea of financial institutions resembling utilities has caught on with some industry observers for reasons other than reducing systemic risk.

The National Association of Realtors is teaming up with a coalition of environmental groups, taxpayer advocates and insurance companies to push Congress on flood insurance reforms.

Sequatchie Valley Bancshares in Dunlap, Tenn., has agreed to buy Franklin County United Bancshares in Decherd, Tenn.

All the noise over the impact of the Current Expected Loss Model is paralyzing bankers from taking reasonable and practical steps to prepare for the new accounting standard.

Dime Community Bancshares has agreed to sell its headquarter building in Brooklyn for $12.3 million.

M&T Bank in Buffalo, N.Y., for the first time was able to report a full-quarter impact from its acquisition of Hudson City Bancorp, which took about three and a half years to complete because of regulatory challenges.

Citigroup's nearly half-billion-dollar outlay for restructuring costs could prove tremendously beneficial, but a lot of work has to be done and it still has to produce more revenue growth in the future.

Freedom Mortgage of Mount Laurel, N.J., has agreed to pay $113 million to settle government allegations that it failed to comply with Federal Housing Administration requirements for originating and servicing FHA-insured loans.

Cyberthieves using malicious software discovered by IBM Security have stolen $4 million from business customers of two dozen financial services providers this month, IBM said.

A partnership with a firm that makes consumer loans through Home Depot stores is exceeding all expectations at Regions Financial. The company is counting on arrangements with two other alternative lenders to further drive loan growth.

Investors are quickly choosing sides in a proxy battle at Financial Institutions in Warsaw, N.Y.

Senior members of the Obama Administration posted a blog advocating "a moral case" for putting an end to payday lending abuses, citing support from a variety of religious leaders.

The Memphis, Tenn., company's forecast for the remainder of the year calls for cost saves from a branch-reduction effort that's gaining momentum as online and mobile banking grow and monthly visits to branches plummet.

Meridian Bank in Malvern, Pa., has raised $13.8 million through a sale of common stock.

Senior members of the Obama administration posted a blog under the headline: "A Moral Case for Putting a Stop to Payday Lending Abuses." White House officials are citing support from a diverse array of religious leaders for ending the cycle of debt caused by taking out multiple payday loans.