Kearny Financial is partially restructuring its balance sheet in response to a problem that many banks are facing. The bank's actions should result in a sizeable income boost once they're fully phased in, an analyst said.

An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.

Lenders that offer streamlined refinances in the future shouldn't be required to consider the borrower's income or employment status, according to the Mortgage Bankers Association. The trade group's comments were part of its response to a request for information on mortgage products that would support the financial stability of households.

The San Francisco bank joined Bank of America, U.S. Bancorp and Huntington Bancshares, which have previously introduced similar products. The Pew Charitable Trusts said the loans are a more affordable option for cash-strapped consumers than payday loans and overdraft fees.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.

The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

The Pittsburgh-based parent of First National Bank of Pennsylvania plans to close its $117 million buyout of UB Bancorp in December.

Four of the seven large banks that own Zelle's parent company, Early Warning Services, said they are reimbursing 15% to 55% of consumers that report fraud on their accounts, according to a report released by Sen. Elizabeth Warren, D-Mass.

TD Bank, the U.S. unit of the Canadian bank, has hired Christopher Fred as its new head of U.S. credit cards and unsecured lending. The bank's retail partners include Target and Nordstrom.

Taichung Commercial Bank said it would pay $82.1 million to buy American Continental Bancorp in suburban Los Angeles.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.