Enforcement

The former president of a Texas community bank was sentenced to two years in federal prison for manipulating the bank's books and embezzling money to pay her daughter's sorority dues.

Royal Bank of Scotland Group took a surprise 3.6 billion-pound ($5.2 billion) hit to the value of its assets and set aside more money for past misconduct, limiting Chief Executive Officer Ross McEwan's ability to return capital to shareholders.

JPMorgan Chase agreed to pay $995 million to resolve claims by Ambac Financial Group that it was duped into insuring mortgage bonds backed by shoddy loans, paving the way for approval of a much larger settlement between the bank and institutional investors stemming from the global financial crisis.

A JPMorgan Chase unit has reached an agreement to pay $1.42 billion to resolve claims it took advantage of its status as Lehman Brothers Holdings' primary lender to unfairly extract cash and position itself ahead of other creditors in Lehman's bankruptcy.

Bank of America and nine other banks have agreed to pay about $63 million to settle claims they misled the state of Virginia into buying faulty residential mortgage-backed securities.

The Consumer Financial Protection Bureau is receiving more pushback than fellow financial regulators from companies it hits with enforcement orders, likely as a result of the stronger wording the agency uses to publicize the actions.

Money-laundering episodes included a purported Whitey Bulger associate looting a church's coffers and the arrest of a Houston socialite on gambling-related charges.

The House Financial Services Committee argues that the CFPB ignored a Justice Department request to narrow the list of potential consumers harmed in the Ally case, purposely casting a wider net for political purposes.

Overlapping missions and jurisdictions are fueling competition between the Consumer Financial Protection Bureau and the Federal Trade Commission, according to former officials at both agencies.

The former chief marketing officer of the failed Mirae Bank in Los Angeles was arrested following an eight-count indictment stemming from alleged loan fraud.

Drafting internal honor codes, and having employees pledge to follow them, could be a good first step to reversing negative opinions about banking.

Nine former officers and directors accused of hiding problems at Superior Bank in Birmingham, Ala., will pay more than $1 million in penalties as part of settlements with the Securities and Exchange Commission.

U.S. lawmakers called for federal investigations into Clayton Homes, the mobile-home business at Warren Buffett's Berkshire Hathaway, after the Seattle Times and BuzzFeed News wrote that the company targeted minority borrowers and charged them higher interest rates on average than whites.

Convictions of big banks have lacked any tangible consequences for perpetrators, leaving many still doubting that the government is serious about prosecuting large firms.

Sen. Richard Shelby's bill changing how regulators gauge if a bank is "systemic" would refocus post-crisis policy on institutions that pose the greatest threat.

Community Shores Bank Corp. in Muskegon, Mich., has raised about $5.3 million and has been released from an enforcement action.

If impending rules on overdraft protection go too far, banks could intentionally pull back on providing the service to illustrate just how useful it is.

U.S. judge rejects Quicken Loans' effort to move FHA loan case to Detroit courtroom.

Dilip Ratha, an economist at the World Bank, shows how the power of a simple remittance sent from one family member to another could be magnified to improve the lives of poor people.

The Bancorp in Wilmington, Del., has agreed to pay a $3 million civil money penalty to address issues tied to electronic fund transfer practices.