Cadence Bank in Birmingham, Ala., has closed three branches in Alabama and plans to close five more in Mississippi and Texas, the Birmingham News reported.

Banks used to have almost no involvement with the U.S. patent system, but recently some large institutions, like Bank of America and JPMorgan, have begun locking down intellectual-property rights. The effort appears to be aimed at fending off patent trolls, and it raises fresh questions about which activities are legitimate for financial institutions.

PNC Financial Services Group in Pittsburgh has named former Walgreens Chief Executive Gregory Wasson to its board.

Allowing real estate investment trusts to bridge the capital need for affordable housing could help de-escalate a rising public funding crisis.

The Consumer Financial Protection Bureau is generally coordinating with prudential regulators on supervisory issues to avoid duplicating responsibilities, but communication between the agencies can still be improved, the CFPB's watchdog said Thursday.

Providence Bank in Columbia, Mo., has acquired Community First Bancorp in Fairview Heights, Ill.

Diane Bailey Morton was named the $1.6 billion-asset C1's chief human capital officer and general counsel, while Dustin Symes will head up retail lending operations.

The former FDIC chairman said during a recent conference call that banks with a traditional model — essentially community banks — have been hurt by the Fed's interest rate policy and the trickle-down tactics of regulation.

The Federal Housing Finance Agency wants to exclude mortgage real estate investment trusts from membership in the Federal Home Loan Banks. That would be a major setback for the entry-level borrowers who depend on mortgage REITs for sustainable home-financing options.

First Choice Bank, in Cerritos, Calif., has raised $30 million from a secondary stock offering.

South Shore Bank in South Weymouth, Mass., has named new chief executive and chief operating officers.

Clifford Isroff, the lead director of FirstMerit in Akron, Ohio, died Tuesday after a long illness. He was 79.

PayPal has agreed to acquire Xoom for $890 million, as the consumer payments company looks to expand into the international remittances business.

The chief executive officers of Fannie Mae and Freddie Mac may see more than a sixfold increase in their compensation to $4 million in spite of objections from President Barack Obama's administration and some lawmakers.

Anchor BanCorp Wisconsin in Madison said it expects to save about $5.4 million yearly after it completed an employee buyout, sold a branch, closed six branches and introduced a new branch staffing model.

The Consumer Financial Protection Bureau is ordering two vendors that sell credit card add-on products to pay nearly $10 million in combined fines and restitution for allegedly charging consumers for services never rendered.

Riverview Financial in Harrisburg, Pa., has promoted its president to chief executive after its previous CEO retired, and delayed its planned acquisition of a western Pennsylvania community bank.

PayPal, Amazon, Square and American Express have all built new businesses by extending credit to merchants that already rely on their payment networks. Their client relationships give them certain advantages over banks, marketplace lenders and others.

BancorpSouth in Tupelo, Miss., has again extended the deadline to complete its acquisitions of Central Community in Temple, Texas, and Ouachita Bancshares in Monroe, La.

Always-connected workers report feelings of guilt as well as privacy concerns around the use of mobile devices for personal matters at work, and vice versa. Bank CIOs are facing this challenge with software tools and mobile device management policies.