Banking

Flagstar Bancorp in Troy, Mich., said that the Office of the Comptroller of the Currency has terminated its 2012 consent order with its Flagstar Bank on Monday.

The Consumer Financial Protection Bureau is facing renewed pressure by consumer groups and think tanks to move forward with a plan that would rein in overdraft programs.

John Stumpf and Carrie Tolstedt were ardent evangelists of the bank's sales strategy and culture. Their refusal to move in a new direction left Wells Fargo with problems that will take a long time to fix.

City Holding in Charleston, W.Va., is looking to raise up to $55 million in a stock offering.

Citizens Financial Group in Providence, R.I., said Tuesday that it expects to start offering digital small-business loans in mid-2017.

Goldman Sachs and JPMorgan Chase are among a group of institutions reportedly backing Axoni, a capital markets technology firm that specializes in distributed ledger infrastructure.

Ameris Bancorp in Georgia wanted to buy a premium-finance business but settled for a joint venture, blessed by its regulators, after being flagged for insufficient Bank Secrecy Act compliance.

Female entrepreneurs who apply for loans online and are evaluated by an automated system get a bigger share of online credits than they do traditional in-person bank loans. It could be a sign that automated credit decisions are fairer.

United Community Banks in Blairsville, Ga., is searching for a new financial chief officer.

Following the passage of the November ballot initiative, it is hugely important that cannabis businesses in the nation's largest state be able to secure bank accounts, at a minimum.

Wayne Savings Bancshares in Wooster, Ohio, is looking for a new CEO.

CVB Financial in Ontario, Calif., and Valley Commerce Bancorp in Visalia, Calif., have amended the terms of their planned merger.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Consumers use digital to save money more than time; NYC parking goes mobile; charitable gift cards expand in San Francisco; E-bills win at bootcamp.

Lloyds Banking Group Plc agreed to buy Bank of America Corp.'s MBNA credit-card business in the U.K. for 1.9 billion pounds ($2.4 billion) in cash, marking its first major deal since being rescued by British taxpayers eight years ago.

MainSource Financial Group in Greensburg, Ind., has agreed to buy FCB Bancorp in Louisville, Ky., for about $56.9 million. The cash-and-stock transaction is expected to close in the second quarter.

Two former executives of the failed GulfSouth Private Bank in Destin, Fla., and another man have been indicted on federal charges of defrauding the Troubled Asset Relief Program of $7.5 million.

Tim Pawlenty, the head of the Financial Services Roundtable and former Minneosta governor, sent a letter Monday to President-elect Donald Trump requesting that he take steps to harmonize government cybersecurity requirements.

Smaller institutions have increased the size of their auto books in the last year, with the 25 most-active lenders reporting a nearly 7% increase. More borrower demand and a pullback by some bigger lenders are contributing to the rise.

As financial institutions have gained a clearer understanding of blockchains, they've begun to see the merits of openness in supporting collaborative innovation, and the limitations of the old you-can't-touch-this approach.

Longtime CEO Richard Kovacevich retired from Wells Fargo almost a decade ago, but understanding the scandal that has engulfed the bank requires a close look at the cross-selling mindset that he left for his successors. It was a culture in which the sales often justified the means.