Retail & Commercial

Farmers National Banc (FMNB) in Canfield, Ohio, has named Kevin Helmick its permanent president and chief executive officer.

The battle over how to craft affordable housing requirements as part of mortgage finance reform took center stage on Thursday as witnesses at a Senate Banking Committee hearing sparred over the issue, including whether dedicated funds should be subject to Congressional appropriations.

Shares of Nationstar Mortgage Holdings plunged Thursday after the loan servicing firm missed earnings estimates by a wide margin and announced plans to sell its wholesale mortgage operation.

First Citizens BancShares (FCNCA) in Raleigh, N.C., reported higher third-quarter profit because of a significant improvement in credit quality.

Lawyer Craig Cannon, an expert in electronic recordkeeping for banks, is leaving B of A for Kilpatrick Townsend & Stockton. That his specialty even exists says a lot about the litigious side of financial services these days.

If there is any chance a Basel Committee standard could apply to community banks, U.S. regulators need to make every effort to consult with these institutions before agreeing to it.

The $1.7 billion-asset company said Thursday that it closed two branches last month, and that another four branches will close by next March.

Freddie Mac, the U.S.-owned mortgage financier, will return $30.4 billion to the Treasury Department, after reporting a third-quarter profit that boosted its total payments above the amount the company has received in aid following the credit crisis.

The Consumer Financial Protection Bureau said Thursday it was charging Castle & Cooke Mortgage $13 million in penalties for allegedly pushing consumers into costlier mortgages in order to give kickbacks to loan officers.

As indirect auto lenders brace for regulatory enforcement actions, a group of Senators are raising concerns over the Consumer Financial Protection Bureau's efforts to overhaul the car financing industry. American Banker reporters explain the implications of the clash between Congress and the CFPB.