Regulation

Flagstar Bancorp Friday agreed to pay up to $132.8 million to settle civil-fraud charges lodged by the Department of Justice that accused the bank of improperly approving loans for government insurance.

American Express Co., the largest credit-card issuer by spending, is facing an enforcement action by the Federal Deposit Insurance Corp. and possibly the Consumer Financial Protection Bureau over late fees it charged some charge-card customers, the company said Friday in a regulatory filing.

WASHINGTON — The Federal Deposit Insurance Corp. will report the industry's full 2011 earnings Tuesday in the agency's regular quarterly update.

The Federal Deposit Insurance Corp. issued prompt corrective actions against five banks in January, telling them to either raise capital or be acquired by another institution.

As the Transaction Account Guarantee program is such an important issue to community banks, I read with interest Ms. Barbara Rehm's column titled "Rehm on TAG: Don't Extend it, End it." The piece omitted discussion of the reasons the TAG was created by the FDIC in the first place and why those reasons are still valid today.

The leadership of the American Bankers Association pushed attendees at this year's Conference for Community Bankers to stand united in public, while urging them to push lawmakers to sign onto a bill to address examination appeals.

Commerce National Bank & Trust in Winter Park, Fla., has entered into a consent order with the Officer of the Comptroller of the Currency that requires it to clean up its loan portfolio and bolster its capital levels.

Bank of America Corp. has stopped selling some residential mortgages to Fannie Mae, saying that it let its contract expire in part due to ongoing disputes over mortgage repurchase claims.

The Consumer Financial Protection Bureau received about 2,300 complaints from borrowers about mortgage servicers in December, and that pace has been steady ever since, a senior advisor at the agency said Wednesday.

A push by the nascent consumer bureau to make a small fix to the Dodd-Frank Act is drawing favorable reviews from the banking industry.