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Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card issuer still managed to report bigger profits.

Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.

The planned sale of its aircraft leasing unit is expected to leave CIT awash in excess capital, making it difficult for it to achieve a 10% return on average tangible common equity by 2018. So the company said Tuesday that is bringing in Boston Consulting Group to identify cost cuts and revenue enhancements and help CIT hit its profitability targets.

Executives pointed to cost reductions, revenue opportunities and improving returns as early indications of success. Management also touted Key's quick response to a integration snafu that "impacted a very small percentage" of First Niagara clients.

Heartland Financial USA in Dubuque, Iowa, has named Jack Lloyd president of its residential mortgage business.

Popular Inc. in San Juan, Puerto Rico, said its quarterly profit fell after losing an arbitration dispute with the Federal Deposit Insurance Corp.

Zions Bancorp. in Salt Lake City posted a double-digit increase in quarterly profit that reflected higher fees and cost control.

Bizfi, a New York-based online small-business finance company, announced the hiring of John Donovan as its new chief executive officer.

The compensation package will put incoming Visa CEO Alfred F. Kelly's income on par with Ajay Banga, Mastercard's CEO.

The Credit Union Executives Society (CUES) elected its board officers for 2016-17 during its CEO/Executive Team Network meeting in Savannah.

Loan growth in Arizona and Southern California led to improved third-quarter profit at Western Alliance Bancorp. in Phoenix.

David Stevens, the chief executive and president of the Mortgage Bankers Association, revealed Monday that he has been diagnosed with cancer in prepared remarks at the association's annual conference in Boston.

Youth sports support, mammograms, cancer treatment and more are all part of the latest round-up of credit union community news.

Bank of Hawaii expanded lending for residential mortgages and commercial real estate, boosting its third-quarter profit.

To land and retain millennial customers, mobile banking apps must graduate from simply replicating online banking on a phone to leveraging the native functionality of mobile hardware.

Webster Financial's profits barely grew in the third quarter from a year earlier, as solid revenue gains were offset by increased costs from the Waterbury, Conn., lender's expansion into Boston.

First NBC Bank in New Orleans may have avoided one problem only to run into a much bigger issue.

Home BancShares in Arkansas would rather buy banks that meet its financial parameters than do one large deal to catapult over $10 billion in assets. The bank also spent most of this year idling with M&A so it could prepare for stress testing.

Strong loan growth sparked higher third-quarter earnings at Synchrony Financial, the credit-card issuer that was spun off from General Electric.

TCF Financial in Wayzata, Minn., on Friday reported higher profits, mostly from gains on the sale of auto loans.