Chris Cumming

Rep. John Campbell, the chairman of the House Financial Services subcommittee on monetary policy, has decided not to seek re-election.

The $3.5 billion asset company will invest in Religare Enterprises, an Indian firm that is applying for a banking license in India, Customers said Thursday. It will spread the investment out over the next 18 months.

Jack Choi, the chief credit officer at Wilshire Bancorp (WIBC) in Los Angeles, will step down on July 1 to become president and chief executive of an unnamed bank.

Alamogordo Financial Corp. (ALMG) in New Mexico has agreed to buy Bank 1440 (BFFO) in Phoenix.

Signature Bank (SBNY) in New York City has hired a private-client team from Citigroup (NYSE: C) and added two more bankers to head its existing groups.

The consumer-loan company InstaLoan has contracted with FactorTrust for information on the underbanked, to help it expand its pool of loan candidates.

Bay Banks of Virginia in Kilmarnock plans to close a branch and begin offering mobile banking.

In an effort to simplify its mortgage process and improve compliance, BOK Financial (BOKF) in Tulsa, Okla., has chosen DocuTech's mortgage loan document software.

BBVA Compass has begun contracting its branch network, with the bulk of the closures in Texas.

Opus Bank in Irvine, Calif., has hired Michael Allison as co-president and Bob Granfelt as chief operating officer.

Auto-loan delinquency rates inched up in the first quarter, due largely to an increase in subprime loan balances, according to a new report.

In the wake of his Deloitte crackdown last week, New York financial regulator Benjamin Lawsky called for more reforms, and punishments, of the bank consulting industry.

Bank of America is laying off hundreds of workers from a unit that services troubled mortgages.

The Office of the Comptroller of the Currency has taken action against a Missouri bank and freed four others from regulatory actions.

Southern Missouri Bancorp in Poplar Bluff, Mo., has agreed to buy Ozarks Legacy Community Financial in Thayer, Mo.

The chief executive and three directors of Atlantic Coast Financial (ACFC) are leaving the company after shareholders rejected a proposed sale to Bond Street Holdings earlier this month.

Reliance Bancshares in St. Louis has named a new chief executive for its bank unit.

California Republic Bancorp in Irvine has securitized and sold $238 million of notes backed by its car loans.

Renato Ramirez, who grew up in Laredo, Texas, and heads a bank there, recently received his community's most prestigious award for his philanthropic efforts.

New York regulators announced a $250 million settlement Thursday with Bank of Tokyo Mitsubishi-UFJ (BTMU) for violating United States sanctions against countries including Iran, Sudan and Myanmar.