Wells Fargo, the nation's largest mortgage lender, is exploring the sale of some servicing rights because the market is flush with potential buyers and it sees little opportunity to cross-sell many servicing clients.

The U.S. unit of Chinatrust Commercial Bank is changing its name to CTBC and offering more services to attract a broader range of customers. But it faces the same challenges other community banks are encountering as they try to expand beyond their traditional boundaries.

The defendants in Tampa, Fla.-based operations that allegedly bilked consumers of millions of dollars are banned from providing the types of financial services used in their schemes. The settlement includes a $25.3 million judgment against one defendant.

Michael Loughlin, the chief risk officer of Wells Fargo, has been elected chairman of the Risk Management Association in Philadelphia.

Toronto-Dominion Bank, Canada's second-largest lender by assets, is ramping up its U.S. asset-management business while doubling the number of advisers for wealthy American clients in an bid to accelerate profit.

Jayme Fields, the chief financial officer of 1st Capital Bank (FISB) in Monterey, Calif., has resigned.

Remittances from the West are a lifeline for many people in the developing world, but anti-money laundering compliance requirements have made it hard for banks and money transmitters to service this market. Ellen Zimiles of Navigant Consulting discusses the delicate balance between regulatory and law enforcement concerns, on the one hand, and business and humanitarian goals on the other.

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

Electronic payment companies design, build and operate costly networks that provide secure payment transactions to merchants. Such providers incur significant costs for the services they provide and deserve to charge a market-based rate to their customers.

Old National Bancorp in Evansville, Ind., has agreed to buy Tower Financial in Fort Wayne.

U.S. consumer credit growth slowed for the second straight month in July as a key measure of credit card usage fell, indicating consumers might be growing more cautious.

Simmons First National (SFNC) in Pine Bluff, Ark., had the winning bid to buy Metropolitan National Bank during a bankruptcy auction.

Cardinal Financial Corp. (CFNL) has agreed to buy United Financial Banking (UFBC) for nearly $52 million. The two companies are in the northern Virginia suburbs of Washington.

VIENNA, Va. – Navy FCU on Monday opened a branch inside a Safeway store in Germantown, Md., and may expand its grocery store presence.

ALBANY, N.Y. – SEFCU, New York’s seventh-largest credit union, is moving its headquarters to a former train station in downtown as part of a plan to redevelop the site.

UMB Financial (UMBF) in Kansas City, Mo., is planning a stock sale that could bring in as much as $257 million.

Dallas hedge fund Clover Partners is causing Texas-size headaches for two small Massachusetts thrifts, Hampden Bancorp and Chicopee Bancorp.

The House Majority Leader's failure to include mortgage finance reform in his legislative agenda for the fall has sparked more questions about whether Rep. Jeb Hensarling, Patrick McHenry and others can advance his legislation to the floor this year.

Bank of America will eliminate about 2,100 jobs and shutter 16 mortgage offices as rising interest rates weaken loan demand, said two people with direct knowledge of the plans.