Federal Reserve Chair Janet Yellen faced tough questions from lawmakers on Wednesday covering a range of issues, including small bank burden, executive compensation, and living wills at a hearing focused solely on banking regulation.

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

A small, but growing, number of banks reported issues with credit during the third quarter. While most instances seem manageable, some industry observers believe bigger challenges could arise in 2016.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, is attempting to add 15 different bills to legislation that would secure funding for transportation projects.

Hedge funds that invested in CertusBank have sued its former management team, claiming they misappropriated millions and doomed the bank with wasteful spending. Certus closed shop last week after losing nearly $200 million of its $500 million in startup capital in less than four years.

First Banks in Clayton, Mo., has announced that Chairman James Dierberg's son will succeed him, marking the fourth generation of the Dierberg family to lead the company.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

F&M Bancshares in Trezevant, Tenn., has agreed to buy Medina Banking in Medina, Tenn. The $308 million-asset F&M Bancshares said in a press release that it expects the transaction to close early next year.

The FTC and other law enforcement officials across the U.S. announced Wednesday the first coordinated federal-state enforcement measure targeting deceptive and abusive collection practices. "Operation Collection Protection" could signal that regulators will be more aggressive, but also forthright about pursuing the industry.

The $3.9 billion-asset company said in a press release Wednesday that Bernard Clineberg, 66, will step down as president and chief executive in January. Christopher Bergstrom, Cardinal’s chief credit officer and chief risk officer, will succeed Clineberg as acting president and CEO. Clineberg will remain the company’s chairman.

Claremont Savings Bank in New Hampshire has found a successor to Chief Executive Sherwood Moody.

Consumers' average daily spending in October totaled among the highest amounts this year and more than reports for October dating between 2009 and 2012, according to Gallup’s latest daily spending poll results.

The Federal Trade Commission’s news conference set for Wednesday concerning a debt collection law enforcement initiative reportedly involves unveiling a new national plan to stop nefarious debt collectors.

The CFPB has revised the process by which companies can appeal a supervisory action. The changes were mentioned as part of the agency's Supervisory Highlights report, which focused on concerns in the servicing of student loans and mortgages as well as debt collection and credit reporting problems.

First National Corp. in Strasburg, Va., will redeem about $14.6 million of preferred stock that was originally issued through the Troubled Asset Relief Program.

Uber Technologies is drafting plans to offer banking services to its drivers as part of an effort to fend off ride-sharing competition, according to a report by Quartz.

While Texas has been among the strongest housing markets in the country over the past few years, the recent decline in oil and gas prices is affecting its housing market at a time when an overall sluggish economy can't pick up the slack.

Wells Fargo Home Mortgage has shifted Perry Hilzendeger to head up its mortgage servicing operations from his previous position of running its home loan default business.

FirstBank Holding in Lakewood, Colo., has picked new presidents for its Denver market and its market for the western suburbs of Denver.

Reimaging the digital experience for retail customers has been the rage for several years now, but a handful of companies are turning their attention to rethinking the digital experience for small business deposit accounts.