A Defense Department proposal to strengthen financial protections for military personnel is still too weak, according to attorneys general from 20 states.

WASHINGTON — The Federal Housing Finance Agency said Monday it has approved the merger of the Federal Home Loan banks of Des Moines and Seattle, giving approval to the first voluntary combination in the history of the system.

Investor confidence in Ocwen Financial was clearly shaken Monday after New York state regulators forced the firm's founder out as part of a $150 million settlement.

First Guaranty Bancshares had hoped to raise more than $60 million but a dip in oil prices spooked potential investors even though just 3% of the bank's loans involve energy companies.

Curt Culver has got a lot to keep him busy after he steps down as Mortgage Guaranty Insurance Corp.'s CEO, including serving on the board of his family's eponymous restaurant chain.

First Midwest Bancorp in Itasca, Ill., will restructure its commercial banking group after a key executive retires.

Orient Bancorp. in San Francisco has a new president and chief executive.

A proposal to tighten membership requirements for Federal Home Loan Banks could hamper community lenders' ability to assist in affordable housing and community development programs.

Charlie Shrem, the former Bitcoin Foundation Inc. executive who pleaded guilty to charges tied to the illicit online bazaar "Silk Road," was sentenced to two years in prison by a judge who rejected his bid to remain free and "change the world."

Ocwen Financial has agreed to pay $150 million to New York regulators to settle allegations that it fudged foreclosure documents and said Monday that its founder and, executive chairman, William Erbey is stepping down after 30 years with the Atlanta company.

In Thailand, the National Legislative Assembly on Friday passed a draft law outlining a ban to protect people from being targeted by rogue debt collectors.

Some community banks have entered into the booming energy market without taking the necessary precautions, making them vulnerable to a downturn in oil prices.

Senate Banking Committee Chairman Sen. Tim Johnson (D-S.D.) is calling for joint action between the Department of Education, Department of Treasury and the Consumer Financial Protection Bureau to address student loan industry issues - including debt collection and loan servicing.

T-Mobile has agreed to fully refund its customers for unwanted third-party charges it placed on their phone bills, paying at least $90 million to settle a Federal Trade Commission lawsuit filed earlier this year.

James Herbert's bank is thriving by delivering top-notch service and maintaining strict underwriting standards at a time when many banks are struggling to increase revenues and undercutting each other to win loan business.

The Securities Exchange Commission charged the co-owners of Buffalo, N.Y.-based Reliance Financial Advisors with fraud for allegedly misleading clients about risks associated with a hedge fund managed by a former debt collector.

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Regulators on Friday closed Northern Star Bank in Mankato, Minn., the 18th institution to fail this year.

Empire Bancorp in Islandia, N.Y., has raised $20 million in a private placement.

Federal bank regulators increased the asset-size thresholds for the definition of a "small bank" and "intermediate small bank" for certain bank exams on Friday.