Commerce Bancshares in Kansas City, Mo., reported lower quarterly profit as interest income fell and credit costs spiked.

Chemung Financial in Elmira, N.Y., has agreed to buy six branches in upstate New York from Bank of America.

Bank of America's proposed $500 million settlement with a class of investors in residential mortgage-backed securities issued by its Countrywide Financial unit needs more explanation before it can be approved, a judge said.

Miami's foreclosure rate ranked at the top of major U.S. metropolitan areas last month as auctions more than tripled, signaling lenders are preparing to sell a backlog of distressed properties amid rising home prices.

Ann Mehlum, the chief executive of Summit Bank of Eugene, Ore., will step down to lead the U.S. Small Business Administration's loan programs.

Big banks tightened credit for small businesses in June, a month after being their most generous in six years.

The Consumer Financial Protection Bureau made it clear Wednesday that it would be using complaint data gathered from consumers to heavily pursue debt collection firms at every level through both enforcement actions and new rulemakings.

In a setback for credit card issuers and a win for retailers, legislation that would bar merchants from charging customers to pay with plastic has stalled in about 15 states

Crescent Financial Bancshares of Raleigh, N.C., is going to transfer its stock listing from the Nasdaq to the New York Stock Exchange. The company also announced it will change its name to VantageSouth Bancshares.

The number of bank deals and the average sale price fell in the first half, but M&A activity could increase the rest of the year if investors keep bidding up the stocks of bank buyers.

Six regulatory agencies on Wednesday issued a proposal that would exempt three types of higher-priced mortgage loans from appraisal requirements.

CoBiz Financial (COBZ) in Denver plans to enter two new markets — Fort Collins and Colorado Springs — and create a private-banking division.

Overregulation and elimination of short-term credit alternatives will merely hurt consumers, particularly when criticism of existing products comes with no new solutions.

American Banker asked readers and staff members to recommend books for bankers to take on their summer vacations. Share your own suggestions in the Comments section below.

United Community Financial (UCFC) in Youngstown, Ohio, has been freed from a cease-and-desist order.

A larger-than-usual number of small banks, rising valuations for would-be acquirers, and lingering industry challenges are increasing the odds of deals in the Pennsylvania.

The Federal Trade Commission told a U.S. Senate Commerce Subcommittee that it has been fighting the problem of illegal commercial robocalls through enforcement of the requirements of the Do Not Call program while seeking to spur technological solutions to block unlawful telemarketing calls.

The long-anticipated collapse in mortgage applications, finally a reality, stands to take a bite out of bank earnings in the second quarter and beyond.

The Consumer Financial Protection Bureau warned companies collecting debt that it is closely watching how consumers are treated while at the same time expanding ways for consumers to dispute debt.

For years banks treated certificates of deposit almost as an afterthought. But with loan demand expected to pick up with the economy, some are eyeing ways to lock investors into longer-term CDs now — before rates inevitably rise.