Consumer lending

Deutsche Bank and Credit Suisse Group agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis, putting behind them a major dispute that undermined confidence in the banks and raised questions about their turnarounds.

First Commonwealth Financial in Indiana, Pa., has hired a former Regions Financial executive to lead several of its consumer lending groups.

Flagstar Bancorp in Troy, Mich., said that the Office of the Comptroller of the Currency has terminated its 2012 consent order with its Flagstar Bank on Monday.

So now what? New York Community Bancorp and Astoria Financial have been mum about why they nixed their merger agreement, or where they go next, but the companies have a surprising number of options in the current climate.

New York Community Bancorp in Westbury and Astoria Financial in Lake Success, N.Y., have terminated their merger.

Citigroup's global head of retail banking and mortgages, Jonathan Larsen, who has been known as an advocate of digital banking, resigned for personal reasons, the lender said.

While depository mortgage lenders should exercise some caution before welcoming trended data and alternative credit scoring into their process, they must become inclusive or face losing market share to newer industry players like SoFi.

Fewer delinquencies are expected to accompany higher debt levels in 2017, TransUnion predicted.

The surge in mortgage rates since the November election is expected to offset the increase to lenders' short-term funding costs following the Federal Open Markets Committee's 25-basis-point increase to the federal funds rate.

Southern National Bancorp of Virginia in McLean has agreed to buy Eastern Virginia Bankshares in Glen Allen.