City officials hope to soon devise a plan that will help recover the money, including presumably out-of-statute debts.

Old Second Bancorp in Aurora, Ill., said Wednesday that its chief executive officer, William Skoglund, will retire at the end of this year. He will be succeeded by James Eccher, the company's chief operating officer.

DirectCash Payments has agreed to acquire Exeatm's ATM business in Australia for about $15.7 million.

The multifamily housing sector is likely to remain healthy thanks to favorable demographics — but the apartment market is almost certainly past peak for this cycle.

Hudson City Bancorp continues to reorganize its management team and board following the death of chairman and chief executive officer Ronald Hermance on Sept. 11.

Consumer default rates rose slightly in August, reversing a downward trend, according to the latest S&P/Experian Consumer Credit Default Indices.

Sen. Elizabeth Warren (D-Mass.) promised Wednesday to keep pushing for student loan legislation after a bill allowing borrowers to refinance their debts failed to come up for a vote this week.

Regulators have terminated an agreement with Preferred Bank in Los Angeles that required improvements to its data-security system.

The Consumer Financial Protection Bureau has taken a sweeping approach in using its authority to propose supervision of the largest nonbank auto lenders, unveiling a plan that would effectively cover 90% of the market.

Citizens Financial Group in Providence, R.I., has upgraded its education refinance loan product to enable college graduates to refinance federal student loans in addition to private student loans.

Prosperity Bancshares and Hancock Holding knew they would lose significant interchange income when they hit the $10 billion mark, but they were not quite ready for the increased regulatory scrutiny that came with that growth.

During a wide-ranging discussion of the economy and regulation, Wells Fargo CEO John Stumpf cited several factors that were harming the housing market. His comments came the same day the White House hosted a meeting on the topic.

Regulators, advocacy groups and attorneys general are paying close attention to how banks market to and serve different racial and economic groups. There are several things banks can do to protect themselves when putting together a strategic plan.

Two online payday loan operations in the Kansas City area have been shut down after the CFPB and FTC charged them with bilking more than $36 million from consumers.

Two federal regulators announced lawsuits on Wednesday against two separate payday lending operations.

Eastern Bank in Boston is raising its profile by installing automated teller machines at travel plazas along some of Massachusetts' most heavily traveled highways.

Park Cities Financial Group announced Wednesday that it is buying CU Bancshares in Dallas and its subsidiary, the $593 million-asset Town North Bank.

The $5.2 billion-asset company intends to use the proceeds from its sale of subordinated notes for general purposes, it said in a press release Wednesday.

Sun Bancorp in Mt. Laurel, N.J., has expanded its senior management team, hiring Patricia Schaubeck as executive vice president and general counsel.

The mobile wallet finally has some real momentum. Will the biggest banks use the opportunity to take business from their smaller peers?