WASHINGTON — Fifth Third Bank must pay a total of more than $21 million to settle separate claims by the federal government that the bank's indirect auto-loan business discriminated against African-Americans and that the bank deceptively signed up customers for a credit card add-on product.

It's hard to decide which is more surprising: that the largest U.S. bank has almost abandoned the business of making home loans insured by the Federal Housing Administration, that lots of big banks could be right behind it, or that the FHA might not even need to care.

Fifth Third's mortgage division has launched the Community Reinvestment Mortgage Special, a program designed to cover closing costs for mortgage customers buying or refinancing homes in low-income areas.

Citigroup has agreed to issue private-label credit cards for Wawa, a Mid-Atlantic convenience store chain.

The $4.8 billion-asset HomeStreet said in a press release Monday that it will pay $49.8 million in stock, or $11.70 a share, and $5.5 million in cash for the $200 million-asset Orange County Business Bank.

The $417 million-asset company appointed John Kaufman, 33, as CFO on Friday, according to a news release. Kaufman was also named CFO of MSB's Millington Savings Bank.

Debt-buying giant Encore Capital Group officials announced Monday that the company is acquiring a controlling stake in Baycorp, one of Australia's largest debt resolution companies. Terms of the deal were not disclosed.

Officials with the Ohio attorney general’s collection-enforcement division report that approximately $34 billion in government debt owed by corporations and consumers is being pursued by 70 outside law firms and third-party agencies.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including how postal banking could help low-income people in the U.S. and the continuing debate over interchange fees.

IMGCAP(1)]

Pinnacle Bancorp in Central City, Neb., has agreed to buy Woodhaven National Bank in Fort Worth, Texas.

The collaboration between financial institutions and technology firms runs deep, but banks' recent criticism of lax regulatory oversight for nonbanks reveals fissures.

Cardinal Financial made a big push into wealth management a decade ago. Today, it remains an inconsistent business, though management is optimistic about the future.

The CFPB is rewriting the rules for debt collection, and in the meantime fines and penalties are coming fast and furiously. Banks need to closely scrutinize every debt collector and debt buyer they do business with, or even bring collections back in-house, said attorney Joann Needleman.

Berkshire Hills Bancorp in Pittsfield, Mass., has named a new president and chief operating officer for its bank.

Four Oaks Fincorp in Four Oaks, N.C., has named Deanna Hart chief financial officer of the company and its bank.

Lenders that allow borrowers to shop for third-party settlement services face new liability, as the Consumer Financial Protection Bureau's integrated mortgage disclosure rules will let borrowers sue over problems with vendor lists.

Consumer spending gains in the second quarter helped the U.S. economy expand more than forecasted and may help the U.S. withstand a global slowdown, according to Commerce Department figures released Friday.

At a time when fintech companies and banks are struggling to draw more consumer interest in their apps, a Reno, Nev., startup is hoping to motivate underbanked consumers to pay bills, including overdue ones, via a friendly mobile experience.

The rankings of the Most Powerful Women in Banking and Finance include some familiar faces (KeyCorp's Beth Mooney of course), but also plenty of newcomers (including U.S. Bancorp's Kathy Rogers, JPMorgan Chase's Thasunda Duckett and Wells Fargo's Yvette Hollingsworth Clark). We also look at efforts to bring more women into boardrooms and have an op-ed by the CEO of HSBC USA.