The affected accounts are restricted to the Cincinnati area, and current PNC Bank customers are not affected, PNC Financial spokesman Fred Solomon said today. Full story »

As banks gambled on the risky mortgages that helped create the worst financial crisis in generations, the U.S. government handed out millions of dollars in bonuses to regulators at agencies that missed or ignored warning signs that the system was on the verge of a meltdown. Full story »

Testifying at a House hearing, Bernanke waged a fresh battle against Senate efforts to scale back the Federal Reserve's role in overseeing the nation's banks.  Full story »

"It would be safe to assume" that the SEC is looking very closely at the conduct of a number of firms during this time, Schapiro told a House subcommittee. She did not name the companies.  Full story »

Gorman, 49, who was president of KeyBanc Capital Markets, has worked for the Cleveland bank since 1991. He is now senior executive vice president and head of Key's national banking business.  Full story »

A rate hike isn't imminent. But at their meeting, which started this morning, Federal Reserve Chairman Ben Bernanke and his colleagues will likely focus on how to telegraph that higher rates are coming once the economic recovery is more deeply rooted. Eventually, Fed policymakers will need to start bumping up rates to head off inflation. Full story »

KeyCorp said it has expanded its board of directors to include the newly elected Elizabeth Gile and Edward Stack. Full story »

Regulators have shut down Park Avenue Bank in New York, marking the 28th failure this year of a federally insured bank. Full story »

Washington Mutual Inc. has tentatively resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company's Chapter 11 bankruptcy, a WaMu attorney said Friday. Full story »

Yellen, who was a top economic adviser to President Bill Clinton, is considered a dove on monetary policy, meaning she is more worried about high unemployment than rising inflation. She would become the second highest ranking Fed official. Full story »

Citigroup Inc. is poised to return to "sustained profitability" as it sheds risky assets and focuses on emerging markets, CEO Vikram Pandit said Thursday. Full story »

A federal regulator says Wall Street banks are seeking exemptions to proposed new rules for financial derivatives that could shield more than half the trades in the complex instruments that should be subject to disclosure. Full story »

Unable to muster bipartisan agreement on key banking provisions, Senate Banking Committee Chairman Christopher Dodd said Thursday he will offer his own version of a sweeping overhaul of financial regulations without Republican support. Full story »

The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable -- a decision that could cost taxpayers $6.3 billion, a new watchdog report says.  Full story »

To European officials, financial derivatives are dangerous weapons that worsened its debt crisis and should be curbed. To Wall Street, they're tools that reduce risk and generate profits and should be left alone. Full story »