Deutsche Bank's former subsidiary MortgageIT has agreed to pay $12.1 million to settle claims that it discriminated against African-American and Hispanic consumers seeking mortgage loans, the U.S. Department of Housing and Urban Development said Tuesday.

Monarch Community Bancorp (MCBF) in Coldwater, Mich., has finalized a plan to repurchase shares and warrants issued under the Troubled Asset Relief Program from the Treasury Department at a 55% discount.

Seacoast Banking Corp. of Florida (SBCF) in Stuart has begun a public offering to fund its exit from the Troubled Asset Relief Program.

WSFS Financial (WSFS) Chief Executive Mark Turner has been picked to lead a Delaware business group.

To prove the value of the merger of Provident New York Bancorp and Sterling Bancorp, executives have to increase revenues at a much faster pace than expenses over the long haul, CEO Jack Kopnisky says.

Fifth Third Bancorp (FITB) in Cincinnati named a new chief financial officer in connection with a tentative agreement to settle a Securities and Exchange Commission investigation into its accounting for commercial real estate loans in 2008, according to a Tuesday press release.

The directive bars banks that do business with Fannie and Freddie from receiving commissions from insurers, but still lets insurers provide services for free or at a reduced cost.

Bank of Nova Scotia, which bought ING's Canadian online bank last year, is renaming the business Tangerine in a move that sheds the last vestiges of its former owner.

Ally Financial Inc. (ALLY:US), the auto finance firm majority-owned by U.S. taxpayers, said third-quarter profit fell 76 percent as the company settled U.S. claims for soured mortgages and stopped making new home loans.

Community banks sustained a 27% decline in mortgage banking income last quarter, confirming the laments of individual banks during earnings season. Some banks are getting creative to try to revive their business in coming quarters, but it will be tough.

The Senate Banking Committee dug into the details Tuesday of how to ensure that community banks retain access to a reformed housing finance system as agreement over a broad approach began to emerge.

The use of prepaid debit cards at Cardtronics-owned ATMs continues to grow at a steady pace, with reloadable cards accounting for 16% of U.S. withdrawal volume during the third quarter.

A New York check cashing company and its owner pleaded guilty Tuesday to violating the reporting and anti-money-laundering requirements of the Bank Secrecy Act.

Court referee Nancy Perez recommended that the Florida Supreme Court revoke David J. Stern's law license and order him to pay roughly $50,000 to cover the Florida Bar's legal costs, according to a report filed Oct. 30.

Store-branded credit cards are becoming more popular with major retailers and with consumers who have the option to save money on their purchases if they open one, according to new data from Equifax.

Increasingly, our markets will be defined less by where we place branches and more by where we send our best bankers to engage with existing and potential customers.

Quarterly profit rose 36% at BofI Holdings (BOFI) in San Diego, as the online bank's loan growth led to higher interest income.

The Federal Housing Finance Agency told Fannie Mae and Freddie Mac to end reimbursements to mortgage servicers for expenses related to captive reinsurance arrangements.

Huntington Bancshares (HBAN) in Columbus, Ohio, has committed $25 million to help launch a microlending program for small businesses in Michigan.

Debt buyers should make a copy available to the court and to the defendant at the time of filing the lawsuit. This should help relieve our congested court dockets and prevent lawsuits against the wrong people in the wrong amount.