Regent Asset Management Solution Inc., based in Denver, and CEO Michael Scata must pay the state of Colorado $70,000 in civil penalties for alleged violations of the Colorado Consumer Protection Act.
Colorado Attorney General John Suthers' office, after obtaining a court order, has banned the agency and Scata from taking part in unlicensed collections in the state.
The court order is the result a lawsuit Suthers' office filed against Regent and Scata in December 2010 (
Stephen Curley, who was the chief banking officer at Phoenix-based Western Alliance, will join Maryland-based Eagle Bancorp as president and CEO in July. Eagle's current CEO previously announced plans to retire after the bank racked up big losses in office loans.
At its first-ever investor day, the Phoenix-based bank fended off questions stemming from two recently disclosed problem loans, including one that resulted in a $126 million charge-off.
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.
The community bank trade group says crypto firms are combining stablecoin rules, Fed master account access and trust charters to replicate banking without bank rules.
The Canadian bank signed an agreement to sell the businesses to Stonepeak, an alternative investment firm in New York. The move will free up capital and allow the bank to invest in higher growth-potential areas.
