Banking

Regulators have ordered Fulton Financial (FULT) in Lancaster, Pa., to strengthen its Bank Secrecy Act and anti-money laundering controls.

Zions Bancorp. in Salt Lake City has added Edward Murphy to its board. Murphy was chief financial officer of the Federal Reserve Bank of New York from 2005 to 2013. He also served as CFO of the retail division at JPMorgan Chase from 2002 to 2004.

Consumer confidence is improving but uncertainty surrounding world events and gridlock in Washington continue to temper expectations for Stephen Steinour.

These investors complain they get little say or direct recompense in government settlements with big banks over misrepresentations of mortgage securities like the Department of Justice's $7 billion deal with Citigroup.

Solera National Bancorp (SLRK) continues to go through management changes less than a month after an activist took over the Lakewood, Colo., company's board.

First Horizon National (FHN) in Memphis, Tenn., nearly doubled profits last quarter thanks to lower expenses and credit-quality improvements.

Synchrony Financial, the consumer- credit business being spun off by General Electric Co., is seeking a market value of as much as $22 billion in what may be the biggest U.S. initial public offering this year.

Missouri regulators are weighing whether to stop a practice in the state of allowing payday lenders to collect utility bill payments from customers.

Republic Bancorp (RBCAA) in Louisville, Ky., reported a slight bump in second-profits due to modest loan growth but results were tempered somewhat by a sharp drop in mortgage banking income.

A community group has succeeded in forcing additional scrutiny of Banc of California's (BANC) expansion plans.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Earnings at Associated Banc-Corp (ASBC) fell slightly in the second quarter as growth in commercial lending failed to offset a sharp decline in income from mortgage banking.

Bank of New York Mellon Corp., under pressure from activist Nelson Peltz to lift its share price, said second-quarter net income declined as the world's largest custody bank eliminated jobs to cut costs.

Huntington Bancshares (HBAN) in Columbus, Ohio, improved its bottom line as an increase in revenue offset higher noninterest expenses.

Internal documents reveal that the crackdown is targeting banks, not merchants and processors, because it requires less investigation into the facts. That should anger all Americans who care about due process and the rule of law, writes ex-FDIC Chairman Bill Isaac.

The U.S. Department of Education has not properly overseen the collection agencies it hired to pursue delinquent federal student loans, according to an audit released by the department's inspector general.

Sierra Bancorp (BSRR) in Porterville, Calif., has agreed to buy Santa Clara Valley Bank (SCVE) in Santa Paula, Calif.

Home BancShares (HOMB) in Conway, Ark., got a big boost last quarter from a recent acquisition.

Check, a bill pay app owned by Intuit, has launched a feature some financial institutions have been positioning as a competitive differentiator: the ability to pay paper bills using the smartphone camera.

Capital One Financial (COF) used growth in its commercial banking and auto lending businesses to build its earnings in the second quarter.