Wells Fargo is facing a U.S. investigation into whether it improperly repossessed cars owned by members of the military, according to two people with knowledge of the probe.

Banks can borrow some of the best practices from mobile-first fintech firms in order to compete with startups for millennials.

Quarterly profit at CIT Group plunged after the in Livingston, N.J., company recorded $167 million in charges tied to its discontinued reverse-mortgage servicing unit.

Middlefield Banc Corp. in Ohio has agreed to buy Liberty Bank in Beachwood, Ohio.

The former C1 Financial chief, expected to play a critical role at Bank of the Ozarks, resigned just a week after his company's sale. Thanks to a lengthy noncompete, it could take years to determine his next move.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

The cybersecurity climate is already an all-hands-on-deck situation, so one more threat – even one prompted by one of America's loudest voices – may not matter.

President Obama called for Fannie Mae and Freddie Mac to be eliminated, but Democratic policymakers attending the convention in Philadelphia appear resigned to the fact that Congress is unable to act on housing finance reform.

First Citizens BancShares in Raleigh, N.C., reported higher quarterly profit that reflected a couple of one-time gains.

Brent Beardall, who has been with Washington Federal since 2001, was named president of the $14.8 billion-asset company and its primary banking unit and retains his job as chief banking officer.

United Community Banks in Blairsville, Ga., reported higher quarterly gains spurred by fee revenue.

As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.

Suffolk Bancorp in New York, which recently agreed to be sold to People's United Financial, discouraged several suitors from bidding due to concerns about concentrations of commercial real estate loans at those banks. The disclosures highlight the challenges that banks with heavy CRE exposure could face — as buyers or sellers — if they want to do deals.

Valley National Bancorp in Wayne, N.J., reported higher quarterly profit because of loan sales and increases in other fees.

BOK Financial in Tulsa, Okla., reported lower quarterly profit that reflected a still-elevated loan-loss provision.

First Commonwealth Financial in Indiana, Pa., has agreed to buy all 13 branches being divested by Huntington Bancshares as part of the approval to acquire FirstMerit.

More than 40% of consumers with complaints about debt collections say they were asked to pay debts they didn't owe. There are a host of reasons for the problem, including inscrutable legal disclosures.

Banner Corp. in Walla Walla, Wash., reported higher quarterly earnings as it continued to benefit from a recent acquisition.

First Interstate BancSystem in Billings, Mont., reported higher quarterly profit tied to loan growth and increased fee income.

Deposit growth and loan sales gave Flagstar Bancorp's second-quarter profit a lift. The $13.7 billion-asset company said its net income in the three months rose 2.1% to $47 million, or 66 cents a share, compared with last year's second quarter.