Retail & Commercial

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

Record fines that the world's biggest investment banks are expected to pay in the coming months reflect years of frustration among U.S. regulators that their investigations were being hampered by unmonitored messaging among bankers.

The seller, Farmers Bankshares, has $609 million of assets and eight branches.

BOK Financial, based in Oklahoma, has tapped Mark Wade to become CEO of the Bank of Texas next year. The current chief, Norm Bagwell, will take a part-time role.

Eagle Bancorp in Bethesda has agreed to pay $22.9 million to regulators to settle claims it failed to report loans totaling $99 million made to founder Ron Paul, who will pay more than $500,000 in fines in addition to being barred from the industry.

The Consumer Financial Protection Bureau's recent offensive against redlining by nonbank mortgage originators is increasingly relying on internal communications to make charges stick.

Bank of America said overdraft-service fees plummeted 90% after it took steps to ease off on the charges, which have been under fire from lawmakers.

Farmers Bank plans to develop new revenue from home loans, despite seeing many bigger lenders flee the same market.

As summer nears its end, finance-industry rookies are relishing their freedom while some fret over what it means for their future careers. Anxiety is simmering in Wall Street's kinder era for incomers, according to interviews with 10 young bankers.