California Gov. Jerry Brown signed the Electronic Benefits Transfer Protection and Empowerment Act, AB 1614, on Sunday. The law includes a requirement that recipients of the California Work Opportunity and Responsibility to Kids welfare program must receive information that helps prevent ATM fees being charged against them when accessing their benefits.

WASHINGTON — Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday.

Popular in San Juan, Puerto Rico, has made a few changes to its management team.

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Banks, credit unions, payday lenders and installment lenders are likely to feel the impact of restrictions on loans to members of the military that the Defense Department has proposed.

Old Line Bancshares in Bowie, Md., is planning to close four branches.

The Federal Deposit Insurance Corp. in August issued eight consent orders and one civil money penalty, according to its latest monthly roundup of enforcement actions released Friday.

Tory Nixon played defense for San Francisco's famed NFL team in some of its glory years, but now he's on offense, seeking to build out commercial lending and retail operations in Northern California for California Bank & Trust.

Great Western Bancorp in Sioux Falls, S.D., could sell up to $100 million shares of its stock during its planned initial public offering.

More community banks are looking to outsource their mortgage operations to reduce the regulatory burden, but structuring such deals — and determining proper compensation — can be tricky. Here's how two Chicago-area lenders solved the problem.

Hudson City Bancorp in Paramus, N.J., has sold $112.1 million in delinquent, FHA-backed mortgages.

Bank of America's recent mortgage settlement with the DOJ includes a number of striking admissions about its underwriting and origination process in the run-up to the financial crisis. These facts may provide banks and correspondent lenders facing buyback demands with a fresh line of defense.

BNC Bancorp in High Point, N.C., is planning to issue $60 million in subordinated notes to pay off a loan from another bank.

First Busey in Champaign, Ill., has agreed to buy Herget Financial in Pekin, Ill.

Credit cards and installment loans that are sold to active-duty military members would be subject to a series of consumer protections under the new Defense Department proposal. High-cost lenders easily evaded the earlier rules, which applied more narrowly.

Putnam County Savings Bank in Brewster, N.Y., has agreed to buy CMS Bancorp in White Plains, N.Y.

The $820 billion-asset company disclosed in a regulatory filing Clifton Painter retired as its chief operating officer and chief credit officer on Sept. 22. Painter agreed to remain a consultant for the next two years.

AmeriServ Financial in Johnstown, Pa., will take several charges in coming quarters, including one tied to litigation and client loss in its investment advisory business.

New York Gov. Andrew Cuomo has signed into law a measure that allows financial institutions to offer raffle-style programs to encourage saving.

The private equity firm of Texas billionaire Gerald J. Ford, is planning a tender offer for up to 65% of Mechanics Bank in Walnut Creek, Calif. If completed, the deal would be the first deployment of the $755 million that Ford's fund raised last year.