Failures

Employees saw the bank’s cybersecurity unit's shortcomings; the state seeking records related to hidden profits from the family's opioid business.

The lawsuit claims that the board didn't properly supervisor management, which allowed former CEO Edward Rostohar to embezzle more than $40 million.

A recent investigation found that institutions taken over by the National Credit Union Administration “are often the least willing to work with borrowers struggling to afford their loans.”

Gregory St. Angelo was part of a loan and tax credits scheme with other senior executives that funneled him more than $50 million, federal prosecutors said.

Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories.

Someone reportedly was burning paper at the Texas bank on a recent Saturday night, and a state regulator cited "insider fraud and abuse" after Enloe was closed.

Regulators closed The Enloe State Bank in Texas late Friday, marking the first failure in 17 months and the first in the Lone Star State in over five years.

Edward Rostohar, who was CEO of CBS Employees Federal Credit Union, could face up to 15 years in prison following a $40 million scheme that brought down the institution.

Chief Financial Officer Steve App will be succeeded by Bret Edwards, who is now head of the FDIC's division of resolutions and receiverships.

Deutsche Bank and Commerzbank end merger talks; the digital money transfer unit has more than 40 million digital users, second only to JPMorgan Chase.