Retail & Commercial

The Securities and Exchange Commission is preparing to serve Ocwen Financial Corp. with its second subpoena in as many months, adding to the already mounting regulatory pressure facing the country's largest nonbank servicer.

Bank of America has agreed to pay $17 billion to settle federal investigators' allegations that it sold shoddy mortgage-backed securities ahead of the financial crisis.

Banc of California in Irvine is working to address material weaknesses in its internal controls.

The paper check is being eliminated as a redemption option in JPMorgan Chase's rewards program as the issuer encourages consumers to request statement credits instead.

WASHINGTON — The Consumer Financial Protection Bureau has ordered First Investors Financial Services Group to pay a nearly $3 million fine on charges the subprime auto lender reported inaccurate customer credit information to the credit bureaus.

HomeTrust Bank faced a legal challenge from HomeTown Bank after it entered southwestern Virginia. The now-resolved dispute serves as a reminder that banks must be aware of branding challenges when they enter new markets.

Branch managers in Ferguson, Mo., are coping with modified hours and the presence of law enforcement and the Missouri National Guard. Bankers are dedicated to staying open in an area where branches are particularly important to customers.

Southern Bancorp in Arkadelphia, Ark., has agreed to buy the Bank of Bolivar County in Shelby, Miss.

Banks that place too much emphasis on results without understanding the behavior behind it may create a dishonest or overly risky environment, according to consultant David Uhl.

July marks a milestone month for complaints against debt collectors filed with the Consumer Financial Protection Bureau. On the statutory front, TCPA and FCRA lawsuits are both ahead of the year-ago pace.