The acquirer of the failed Milwaukee bank passed on assuming control of 107 in-store locations, but drawing a sweeping conclusion about the state of in-store banking from one story is difficult.
Auditors performing a review of Ocwen Financial padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.
Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount.
The bank agreed to improve anti-laundering controls deemed "unsafe" by the Fed, including oversight of so-called mirror trades that may have helped foreign customers hide large sums of money.
The company was set to sell a 24% stake in itself to buy two Tennessee banks but has restructured the arrangement to avoid a potential conflict cited by a regulator.
The nonprofit Bank On certifies banks that offer deposit accounts with minimal fees. It is one of many initiatives designed to bring more consumers into mainstream banking.
