Banking

KeyCorp in Cleveland reported a drop in first-quarter earnings as expenses and its provision for loan losses crept up.

Citigroup boosted profit more than analysts estimated after a cost-cutting push helped it weather a slump in trading.

Umpqua Holdings in Portland, Ore., posted lower profit from a quarter earlier, largely reflecting a decline in net interest income.

The House approved eight regulatory relief bills Tuesday evening, including two controversial measures opposed by a number of Democratic lawmakers and the White House.

First-quarter results from U.S. Bancorp and PNC Financial Services Group shows banks have little choice but to wait until the Fed raises interest rates. They have cut expenses almost as far as they can go, and fee income is limited in how much it can offset narrower spread income.

Security California Bancorp in Riverside, Calif., has agreed to buy a branch from Rabobank.

IF Bancorp in Watseka, Ill., has selected the successor for its retiring president and chief executive.

WASHINGTON — The Consumer Financial Protection Bureau issued a final interpretive rule Wednesday that clarifies its housing counseling requirements with respect to high-cost loans.

Bank of America reported its best quarterly profit in more than a year, but with revenue declining and expense-reduction slowing, it is unclear where the company can turn to boost earnings. Similar questions are plaguing many banks as the latest earnings season unfolds.

LendKey, a white-label marketplace lender that partners with credit unions and community banks, has reached a deal to sell MidCap Financial up to $1 billion in student-consolidation loans.

Mike Cagney of Social Finance, honored Wednesday at LendIt's innovator of the year, chalks up his success to his company's "relationship-driven" model.

Westamerica Bancorp. is delaying its plan to shutter a small branch in Upper Lake, Calif., to give community leaders more time to convince another bank or credit union to set up shop there.

Former Treasury Secretary Larry Summers, who sits on Lending Club's board, said in a speech Wednesday that such technology-focused marketplace lenders should be given a fair chance to compete.

As cybercriminals demonstrate their deep knowledge of banks' fraud and security rules, some institutions are deploying software that analyzes customers' and other entities' behavior for abnormalities.

Bank of the Ozarks could raise more capital, especially if a rising number of unfunded loans convert to funded credits. Management is also keeping an eye on credit quality, raising certain standards and selling some syndicated loans.

Hudson City Bancorp faces a U.S. government investigation into discriminatory lending practices, according to two people familiar with the matter, posing a potential new hurdle in the bank's long-delayed sale to M&T Bank Corp.

Westamerica Bancorp.'s profits fell again in the first quarter as a result of management's decision to shrink its loan portfolio and load up on lower-yielding investment securities

Boston Private Financial Holdings and its bank have shuffled some key executive posts.

The world needs a financial system that moves money with real-time transparency while upholding the highest level of security and privacy. Digital currency and mobile money services can help get us there.

Debt buyer Asta Funding agreed Wednesday to settle charges brought by New York regulators for allegedly pursuing improper debt collection tactics against hundreds of consumers in the state.