-
Flagstar Bank lost $27.6 million in the third quarter, driven by a Consumer Financial Protection Bureau penalty of $37.5 million, the Troy, Mich., lender said Wednesday.
October 22 -
The Consumer Financial Protection Bureau's action against Flagstar Bank on Monday marked a series of firsts for the agency, including the first time it enforced its new mortgage servicing rules and the first time it banned a servicer from servicing new loans until fixes are made.
September 29 -
First Niagara Financial Group in Buffalo, N.Y., reported a massive quarterly loss that had a number of large writedowns.
October 24
Flagstar Bancorp in Troy, Mich., which has been under pressure from regulators in recent months, has hired a new chief financial officer.
The $9.6 billion-asset company said in a press release Tuesday that it had hired James Ciroli. He recently served as corporate controller at the $38 billion-asset First Niagara Financial in Buffalo, N.Y.
The hiring comes shortly after Flagstar
Flagstar reported a
Ciroli succeeds Paul Borja, who is now Flagstar's senior deputy general counsel.
Separately, First Niagara said on Tuesday that Brian Dempsey has been appointed to succeed Ciroli as controller.
Dempsey will also serve as First Niagara's principal accounting officer, reporting to Chief Financial Officer Gregory Norwood. He joined the bank in 2009, and most recently served as director of finance accounting.