Federal prosecutors in Chicago have filed charges against 10 individuals tied to an alleged vehicle financing scheme that cost Fifth Third Bancorp (FITB) and 19 other lenders more than $56 million.

Doomsayers conveniently forget that the business case for introducing debit cards was one of cost avoidance for the banks, not revenue.

Douglas Manditch, chairman and chief executive at Empire National Bank, believes community banks are being squeezed by "overzealous" regulation and are feeling pressure to sell.

The insurer Genworth Financial has completed the $412.5 million sale of its wealth management operations.

Banks can still use properly tailored arbitration provisions to cut off class actions. Provisions should be explicit; silence is not a bank's friend when it comes to arbitration agreements.

Independent Bank in Ionia, Mich., has exited the Troubled Asset Relief Program.

A judge has approved Anchor Bancorp Wisconsin's plan to file for bankruptcy.

ALEXANDRIA, Va. – Pentagon FCU announced this morning it has signed a deal to link to 167 ATMs located in Rite Aid stores in Maryland, Virginia and greater Washington D.C., part of a broader ATM co-branding strategy.

When it agreed to be sold to Stifel last year, KBW was painted as a victim of weak bank M&A and the transformation of investment banking. Things are looking up now as the combined company ranked as the top advisor in four of six U.S. regions at midyear.

Royal Bank of Canada said Chairman David O'Brien plans to step down at yearend, and that director Kathleen Taylor will succeed him. The Toronto bank also said that Mark Hughes will succeed Chief Risk Officer Morten Friis when Friis retires on Jan. 10.

Student and auto lending surged in the 12-month period ended in July, according to an Equifax report released Thursday.

Everett Stern, who worked at HSBC Bank USA for two years, has given federal authorities emails and other documents that, he says, show HSBC committed anti-laundering violations beyond those covered by its $1.9 billion settlement. He has urged them to open a new investigation.

Total domestic deposit balances at institutions insured by the Federal Deposit Insurance Corp. fell by $31 billion, or 0.3%, in the second quarter, according to analysis from Market Rates Insight.

Merchant Bank in Winona, Minn., plans to buy two branches from Associated Banc-Corp (ASBC) in Green Bay, Wis.

The Federal Deposit Insurance Corp. took regulatory actions against nine banks and freed 22 banks from orders in July, according to an enforcement update released Friday.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Citigroup Inc., the third-biggest U.S. bank by assets, may sell half its Texas branches as Chief Executive Officer Michael Corbat refocuses on the biggest urban areas, three people with direct knowledge of the matter said.

Commonwealth Business Bank (CWBB) in Los Angeles has added veteran banker Alvin Kang to its board.

First Financial Northwest in Washington ousted a longtime CEO, while HopFed Bancorp in Kentucky seated an outsider on its board and canceled an acquisition, under pressure from activist shareholders. More banks can expect similar fights.

The thought of leaving their century-old headquarters didn't appeal to execs at MidWestOne, but neither did a makeover during the height of the recession. They're finally free to give their office space some overdue updates.