Jacob Passy

Brazilian Banker Arrested in Petrobras Scandal; Wells Fargo Probed

The Federal Housing Administration's annual financial report demonstrates the outsize influence of reverse mortgages on the performance of its insurance fund, fueling a debate about whether those loans belong there.

People’s United Financial in Bridgeport, Conn., has dismissed three employees in the wake of alleged fraud on commercial real estate loans.

SunTrust Banks in Atlanta has hired Corinne Cuthbertson as a brand, advertising and digital marketing executive.

The $938 million-asset company will incur $400,000 in expenses from shutting down the unit, including $300,000 for contract termination costs and $100,000 for severance and employee benefits.

Avidbank Holdings in Palo Alto, Calif., has raised $12 million through a private placement of debt.

County Bancorp in Manitowoc, Wis., has selected former Kimberly-Clark executive Kathi Seifert to be a director.

Square is expanding its payroll offering to Florida.

TotalBank in Miami has terminated 58 employees in operating and commercial job functions, after it upgraded its technology.

First South Bancorp in Washington, N.C., will close three branches as part of a larger branch-restructuring plan.