Simplicity Bancorp's experience with mortgage servicing could give banks a reason to reconsider plans to ditch the business despite concerns about new regulations.

A Detroit private-equity firm affiliated with the mortgage originator Quicken Loans has acquired Rapid Financial Services, an online lender to small businesses.

Columbus Data Services, an ATM processor, has completed MasterCard end-to-end certification for all Triton ATM products. As a result, CDS is now processing transactions that comply with the EMV-chip card standard on MasterCard networks.

The American Bankers Association has formed a group to lobby on behalf of rural lenders.

Southwest Bancorp in Stillwater, Okla., has redeemed a series of trust-preferred securities.

In an email to employees, Jamie Dimon said the company is focused on eliminating products and services that aren't core to the business, while also boosting compliance with regulatory initiatives and improving oversight of outside vendors.

Widespread adoption of same-day settlement will level the competitive playing field for all financial institutions and allow all account holders to benefit from expedited settlement.

Community Valley Bank in El Centro, Calif., has hired a new chief executive.

NCAL Bancorp in Los Angeles has agreed to a recapitalization that would give it new ownership.

The third quarter is nearly over, and the news from the trenches is bad. Loan demand is weak. Mortgage volatility caught many bankers off guard. And the only way to make a buck is to buy or sell assets, executives said at the recent Barclays Global Financial Services Conference in New York, the American Mortgage Conference in Raleigh, N.C., and elsewhere.

Cortland Bancorp in Ohio is exiting the wholesale-mortgage business.

Old Line Bancshares in Bowie, Md., has raised $12 million through a private placement.

Wells Fargo & Co. (WFC), the largest U.S. home lender, would survive $29.7 billion of loan defaults under a company-run stress test and stay above minimum regulatory capital levels in a severe economic downturn.

JPMorgan Chase & Co., the largest U.S. bank, said internal stress tests show the company would come through an economic crisis with more than enough capital to stay in business.

A mountain of regulations set to go into effect in January, the Fed's mixed signals and fair lending issues topped the list of concerns at a recent mortgage bankers' risk management conference in Phoenix. American Banker's Kate Berry, who attended the event, reports.

Larry Uhlick will retire as chairman of the Birmingham, Ala., company's bank on Sept. 30. BBVA Compass also said in a press release Monday that Manolo Sanchez, the bank's president and chief executive, will succeed Uhlick.

SB Financial (SBFG) in Defiance, Ohio, has filed a shelf registration that would allow it to raise up to $30 million over the next three years.

The acquisition-minded Heritage Financial and Washington Banking are said to be seeking targets to nearly double their size, motivated in part by the recent Umpqua-Sterling deal.

Activist investor Lawrence Seidman is pressuring OBA Financial Services to find a buyer, saying its poor asset growth, lagging efficiency and "abysmal" returns on average assets and average equity make it necessary.

Bank of America Corp., the second-largest U.S. bank, said it could survive a deep U.S. recession that includes a 21 percent drop in housing prices and an 11.7 percent jobless rate.