Private-equity firm Fortress Investment Group began to fulfill a long-range ambition when two of its affiliates – including Springleaf – agreed to pay HSBC $3.2 billion for a portfolio consumer loans.

The $1 billion-asset Pacific Mercantile said Tuesday that it would sell $2.2 million shares of common stock to private equity firm Carpenter Funds for roughly $14.8 million.

SI Financial Group (SIFF) in Willimantic, Conn., will buy Newport Bancorp (NFSB) in Rhode Island for roughly $61.3 million.

C1 Bank in St. Petersburg, Fla., has recruited the state's former top financial official to its board.

CEO Michael Corbat said Tuesday that the company's future lies in certain key emerging markets, but he also suggested that Citi could pull out of other countries that are dragging down its profits.

FHFA Director Ed DeMarco is planning to create a joint securitization platform by Fannie and Freddie, a significant step toward winding down the mortgage giants. We offer frequently asked questions on what it means for the industry and the future of housing finance reform.

There's still a wide disparity between what buyers are willing to pay and what sellers are willing to accept, and the U.S. Bancorp CEO does not see that gap closing any time soon.

Some banks may be getting reckless with the pricing and terms they're offering commercial borrowers. The trend should temper enthusiasm for otherwise welcome signs of growth.

A Pennsylvania transportation agency has added new accusations to the securities lawsuit it filed against the $1.2 billion-asset Orrstown Financial Services (ORRF).

Bryan Jordan, the CEO of First Horizon, says regulation and competition are forcing banks to find ways to connect with customers who don't want face-to-face contact.

It could take another two years for Renasant to get close to its investor returns from before the crisis, and that's OK, CEO Robin McGraw says.

Rep. Maxine Waters, the ranking member on the House Financial Services Committee, said she and some colleagues are frustrated with the pace of work to implement diversity provisions of the Dodd-Frank Act.

Residential Capital should get more time to file an exclusive plan to reorganize while the bankrupt mortgage company remains in mediation with creditors, who say talks have stalled, a judge said.

Cards preloaded with unemployment insurance, child support, food stamps and other government benefits can be viewed as potential bank accounts, waiting to be opened by people with the fewest quality opportunities to connect to the financial mainstream.

A former hedge fund manager who now handles some investments for Warren Buffett's Berkshire Hathaway has left the board of WSFS Financial (WSFS).

The Federal Housing Finance Agency's Edward DeMarco is pushing a plan merge some Fannie Mae and Freddie Mac operations as Congress and the Obama administration continue to punt on housing reform.

Ray Grace, the acting banking commissioner of North Carolina, used humor to deflect some tough questions aimed at regulators about limits on bank startups.

The Department of Housing and Urban Development will offer two batches of residential loans with a total balance of almost $3 billion later this month.

HSBC agreed to sell a portfolio of U.S. consumer loans for $3.2 billion as it scales back its operations in the country.

Payments processor Elavon has formed a division to help merchants cut costs.