Banking

Huntington Bancshares in Columbus, Ohio, reported higher quarterly in profit that reflected higher in mortgage banking fees and steady loan growth.

Capital One Financial Corp., the credit-card lender that grew into a diversified bank, hired former PayPal executive Don Kingsborough to help run a division that makes strategic investments in technology startups.

The Consumer Financial Protection Bureau, citing illegal student loan and debt collection practices, on Wednesday fined Discover Bank $18.5 million.

New York State's interim bank superintendent is asking pointed questions of a new instant messaging service. The outcome of the inquiry could broadly affect the way vendors work with regulators.

The U.S. Department of Defense on Tuesday issued the final Military Lending Act (MLA) rule to protect service members from predatory credit practices and grow their financial protections.

Eagle Bancorp in Bethesda, Md., exceeded analysts' expectations for the second quarter.

Texas Capital Bancshares in Dallas reported a higher second-quarter profit, citing increased lending and a boost in the number of loans held for investment.

TrustCo Bank Corp NY in Glenville, N.Y., has agreed to improve corporate governance, capital planning, internal auditing and other areas after federal regulators found the issues during an examination.

Discover Financial Services in Riverwoods, Ill., continued its run of quarterly profit declines in the second quarter, due primarily to higher costs for compliance, marketing and customer rewards.

HomeTrust Bancshares in Asheville, N.C., has hired PNC Financial Services Group banker Kristin Powell as co-director of mortgage lending.

American Express Co., the biggest credit-card issuer by purchases, posted second-quarter profit that beat analysts' estimates as expenses fell.

The Mortgage Bankers Association on Wednesday said the housing market recovery has shifted to "a higher gear," and it raised its forecasts for total originations and home purchases for this year and 2016.

Central Bancshares in Muscatine, Iowa, will change the name of some of its banks to CBI Bank & Trust.

Amex will terminate its agreement with Costco in the U.S. next year, a relationship that accounted for 20 percent of Amex's worldwide loans and 8 percent of customer spending.

HCBF Holding Co. in Fort Pierce, Fla., has agreed to buy OGS Investments in Gainesville, Fla.

Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.

Fulton Financial in Lancaster, Pa., reported lower second-quarter profit, as low interest rates pressured lower yields on earning assets.

Buyout heavyweight Accel-KKR just bought a stake in Banker's Toolbox, a software company that helps community banks flag fraud. The PE firm says it was on the hunt for investments in the compliance space given the regulatory climate.

The acting head of New York's financial regulator has asked for details on the instant-messaging service that several large banks are developing, out of the concern that many of the same banks are under investigation for rate-rigging.

The federal government's first broad inquiry into the fast-growing peer-to-peer loan industry raises several important questions, including whether banks will lobby for a clampdown on these lightly regulated competitors.