Now it's time for Wells Fargo to slash its Realtor joint ventures that engage in mortgage banking activities.

AB editors discuss everything from eminent domain mortgage seizures and the CFPB's first year to earnings and the risk that banks are stretching for earnings.

After Wells Fargo reported record second-quarter profit on Friday, CFO Timothy Sloan explained why the bank is optimistic about mortgages, M&A and expenses.

The San Francisco company has the cash and willingness to buy more assets from U.S. and European financial institutions, management said during a conference call Friday.

Merscorp Holdings will provide the state of Delaware's Department of Justice Consumer Protection Unit a semi-annual report detailing results of its internal audits.

Taylor Capital Group (TAYC) in Rosemont, Ill., said that its bank has hired a former team from LaSalle National Leasing to run a new equipment finance division.

The San Francisco bank's $175 million fair-lending settlement with the Department of Justice announced on Thursday amounts to a drop in the bucket relative to its strong second-quarter earnings, driven in large part by its mortgages unit.

Due to ever-increasing compliance requirements, consumers have already lost free checking. Now, the Bureau's sights are set on general purpose reloadable prepaid cards.

The bank's bottom line was strong and it has closed out the bulk of losing positions in its London investment office. But two months after disclosure of major risk management failures, analysts remained wary.

Earnings at Webster Financial (WBS) grew more than 21% in the second quarter from a year earlier, as the Waterbury, Conn., company managed to add loans and transaction deposits.

Former HSBC executive Nancy Pierce will lead Treasury product management for the bank.

Prevail CU and Harborstone CU of Tacoma announced plans to combine this afternoon to create another $1 billion credit union, the state's sixth.

Wells Fargo (WFC) reported a 17% rise in second-quarter profit on strength in mortgage banking and a drop in expenses.

The Federal Reserve Board has lifted a written agreement with Tower Financial that required the Fort Wayne, Ind., company to improve its lending and credit administration.

MONITOR TOWNSHIP, Mich. – Construction of the third Copoco Community CU branch began this week inside the Valley Center Technology Park.

MANCHESTER, N.H. – St. Mary’s Bank, the nation’s oldest credit union, is moving to a new headquarters adjacent to its current offices.

Four out of five banks that closed important deals last week did so in four months or less. First PacTrust, which is new to getting M&A approval from regulators, needed 10 months to close one deal and has another pending after more than a year.

Settlement with San Francisco bank is second-largest fair-lending case following Justice Department's deal with Countrywide last year.

The only beneficiary of this well-intended but misguided regulation appears to be a small group of lawyers bringing costly lawsuits.

Regions Financial has unveiled a new line of Visa credit cards, following its repurchase of its card portfolio from Bank of America's FIA Services last summer.