While Fannie Mae and Freddie Mac wait for Congress to decide when and how to act on housing industry legislation, the government-sponsored enterprises are working with their regulator on "nonlegislative GSE reform" that will better prepare them to implement new laws.

Some banks try to justify tight underwriting standards by arguing that borrowers with lower credit scores and those who can only afford lower down payments are more likely to default. But the research supporting this argument is based on outdated analysis of high-cost, risky loans.

Overall consumer credit default rates showed an uptick in September

Pacific Premier Bancorp in Irvine, Calif., has agreed to buy Independence Bank in Newport Beach, Calif.

U.S. Bancorp reported a steady quarterly profit that matched analysts' estimates as the company made more loans to businesses.

First Horizon National in Memphis, Tenn., has agreed to buy TrustAtlantic Financial in Raleigh, N.C.

Cece Stewart, a 35-year banking veteran who retired from Citigroup in April, has joined the board of First Horizon National Corp. in Memphis, Tenn.

Subprime auto lender Exeter Finance will have a new chief executive in two weeks.

Complaints against the collection industry logged with the Consumer Financial Protection Bureau dropped last month.

Discover Financial Services rode loan growth in every segment of its consumer finance business to net income of $644 million in the third quarter.

TrustCo Bank in Glenville, N.Y., reported higher quarterly earnings driven by increased lending. The $4.6 billion-asset company's third-quarter earnings rose 5% from a year earlier, to $10.7 million.

Empire Bancorp in Islandia, N.Y., posted stronger quarterly earnings after working to make loans a higher percentage of total assets.

The recent drop in interest rates has opened the door for lenders to refinance borrowers with high-cost Federal Housing Administration loans into conventional Fannie Mae and Freddie Mac loans.

Regions Financial in Birmingham, Ala., will stop using high-to-low reordering of checks and debits next year, resulting in a revenue loss of between $10 million and $15 million per quarter.

Executives at regional banks around the country have reported a wide variation in quarterly loan growth (some good, some not) as economic volatility, heavy competition and new regulatory requirements present obstacles.

To win over younger customers, banks must offer free products that work straight out of the box, while also reducing red tape. To hire the best millennial-generation employees, banks need to appeal to younger workers' global values.

PHOENIX – Banks need to convert their ATM fleets into modern financial services kiosks that become new profit centers because legacy payments systems are looking more out of touch with modern expectations.

Customers Bancorp in Wyomissing, Pa., reported higher quarterly earnings as higher revenue offset a spike in expenses.

CNB Financial reported higher quarter earnings after buying FC Bancorp in Ohio. The $2.2 billion-asset company reported an 18% increase in third-quarter earnings from a year earlier, to $5.5 million.

Richard Hunt of the Consumer Bankers Association describes the changes to the Consumer Financial Protection Bureau he'll press for in the next Congress, regardless of which party controls the Senate.