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WASHINGTON — Regulators announced Thursday that they are imposing $4 million in fines against Gibraltar Private Bank and Trust Co. in Coral Gables, Fla., for defective anti-money-laundering programs.

Preparing for the inevitable future credit crisis by setting aside more loss reserves is a step toward avoiding government bailouts.

Sageworks, a financial information company that provides credit risk and risk management solutions to credit unions and banks, announced a series of a new products and product enhancements.

The National Credit Union Administration has developed a new consumer website explains the mission of credit unions and provides tips on saving money.

Nancy Shanik, who had been Citizens' chief risk officer since 2010, will retire on May 31. Malcolm Griggs will succeed her on April 1.

Professional race car driver Scott Tucker has pleaded not guilty in New York to charges in a payday lending scam.

Green Dot reported a larger fourth-quarter loss on higher employee compensation costs and said it will book an extra $11 million in expenses to roll out a new card product.

Though bank analysts like Matthew Schultheis generally expect M&A activity to continue at a brisk pace for several years to come, stock market volatility could prove to be an issue for potential dealmakers in the near term.

County Bank, the holding company for the $324 million-asset Lapeer County Bank & Trust, said in a press release that it will pay $20 million, or $27 a share, in stock for the parent of the $245 million-asset CSB Bank.

Total Spectrum’s John McKechnie pens tribute to old friend and mentor.