The U.S. Department of Education has not properly overseen the collection agencies it hired to pursue delinquent federal student loans, according to an audit released by the department's inspector general.

Sierra Bancorp (BSRR) in Porterville, Calif., has agreed to buy Santa Clara Valley Bank (SCVE) in Santa Paula, Calif.

Home BancShares (HOMB) in Conway, Ark., got a big boost last quarter from a recent acquisition.

Capital One Financial (COF) used growth in its commercial banking and auto lending businesses to build its earnings in the second quarter.

People's United (PBCT) in Bridgeport, Conn., has started a payments firm in partnership with Vantiv in a move that aided the company's quarterly results.

Sandy Spring Bancorp's profits fell short of expectations in the second quarter as revenue from mortgage banking plummeted and litigation costs rose.

The ongoing search for expense cuts continues, as investors wonder why regional banks such as KeyCorp, Fifth Third, Webster Financial and M&T aren't cutting more and faster.

The California Republican, who's one of the most vocal critics of Operation Choke Point, trained his sights Thursday on Assistant Attorney General Stuart Delery.

Aided by gains from a recent acquisition, Simmons First National (SFN) in Pine Bluff, Ark., reported a $9.9 million profit in the second quarter, a 51% increase from the same period last year.

The government hit JPMorgan Chase hard in its mortgage settlement last year, but that history did not stop President Obama from using a JPMorgan credit card to purchase barbecue after a recent economic speech in Texas.

First National Bank of Southern California in Riverside and First Mountain Bank (FMBP) in Big Bear Lake, Calif., have terminated their planned merger.

The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies.

Regulatory constraints make it hard for banks to offer payday and other short-term loans, so why not refer those potential customers to credit unions who can? Some banks -- including Bank of America, TD and South State -- have decided this is a good strategy and helped start a credit union in South Carolina to do the job.

First Interstate BancSystem (FIBK) in Billings, Mont., will close eight branches after it acquires Mountain West Financial (MTWF) in Helena, Mont.

LNB Bancorp (LNBB) in Lorain, Ohio, has hired a new chief financial officer.

East West Bancorp (EWBC) in Pasadena, Calif., reported double-digit earnings growth in the second quarter increase in its second-quarter earned a profit in the second quarter loan growth following the MetroCorp acquisition earlier this year.

The New York Department of Financial Services has released proposed framework for its much-anticipated BitLicense. Though the agency describes its proposal as a balanced approach that does not stifle innovation, its rules might be considered too strict for many companies.

Trust-preferred creditors have forced two indebted bank holding companies into involuntary bankruptcy this summer. Secured lenders may soon follow their lead and start foreclosing on bank stock collateral.

KeyCorp (KEY) in Cleveland reported higher quarterly earnings after a jump in investment banking and debt placement fees and lower credit costs.

A new report shows a total of 613,874 U.S. properties with foreclosure filings - default notices, scheduled auctions and bank repossessions - in the first half of 2014, a 19% drop from the previous six months.