Jacob Passy

Flagstar Bancorp in Troy, Mich., has picked Andrew Ottaway for the newly created position of managing director of lending.

Huntington Bancshares in Columbus, Ohio, has brought on industry veteran Tom Wirth to fill the newly created position of auto finance product and strategy director.

Digital money transfer provider Xoom has launched a service for sending funds to Bangladesh.

Great Lakes Credit Union in Bannockburn, Ill., and Phone-Co Credit Union have merged.

ECB Cuts Deposit Rate; Yellen Hints of Hike

Northern Trust in Chicago has agreed to acquire Aviate Global, an institutional equity brokerage firm in the U.K.

Synovus Financial in Columbus, Ga., plans to issue $250 million in subordinated notes to fund potential acquisitions or refinance other debt.

PenFed Credit Union in Alexandria, Va., announced two mergers Wednesday, one with NAVFAC Federal Credit Union in Honolulu, Hawaii, and one with AAFES FCU in Dallas.

Small Banks Win with Highway Bill; JPM Enters Online Lending

Peoples Bancorp in Marietta, Ohio, plans to increase reserves by $6.6 million to cover four commercial loans that it's moved to impaired status.

Firstmark Credit Union and St. Joseph’s Credit Union in San Antonio, Texas, have finalized an agreement for the two to merge.

Sage Bank in Lowell, Mass., has agreed to pay about $1.2 million to settle Justice Department allegations of discrimination against minorities in mortgage lending.

U.K. Banks Pass Stress Tests; Banks Up Benefit

Evans Bancorp in Hamburg, N.Y., has hired John Connerton to become its chief financial officer.

Cloud-based payroll, payments and business analytics platform CloudPay has brought on Brian Radin as its chief revenue officer.

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.