Bank channel

WASHINGTON — The Financial Crisis Inquiry Commission's first public hearing on Wednesday gave the industry's top leaders an opportunity to express remorse for their role in the collapse of the financial markets but did little to enhance the public's understanding of the meltdown.

Wells Fargo & Co. executives will be cross-examined about their loan book next week in a way they haven't been in awhile.

Tarp, TLGP Recipients to Pay 15 Bpt Fee

Bank life insurance sales growth has far exceeded overall industry growth for the second quarter in a row.

In an effort to capitalize on what some have dubbed “the Year of the Roth,” Huntington Bancshares’ wealth management arm is planning a direct-mailing campaign for a targeted group of customers.

According to Grant Thornton LLP’s 17th Bank Executive Survey, which was conducted with Bank Director magazine, 82% of bank executives polled said that the number of people their bank employs will either increase or remain the same in the next six months.

Brian Moynihan reassigned several Bank of America Corp. executives Tuesday, less than a month after being named the chief executive.

Bankers will get one more credit-quality mulligan in the fourth-quarter earnings season kicking off this week — but expectations will rise afterward.

The Federal Deposit Insurance Corp. unveiled its plans Tuesday to tie bank compensation practices to premium assessments, but the agency's outside directors made it clear they oppose the idea.

The Securities and Exchange Commission announced Tuesday that it has filed new charges against Bank of America Corp. for failing to disclose extraordinary financial losses at Merrill Lynch prior to a shareholder vote approving the acquisition of Merrill.

For many years, community banks have seen their political influence and interests generally take a back seat to their larger competitors, but 2009 was the year that changed.

Terri Dial's resignation as head of North American consumer banking at Citigroup Inc. answered long-simmering questions about how much longer she would last at the beleaguered company.

Tax-time loans, already an embattled product, now face even more regulatory scrutiny — and not just from the traditional banking agencies.

A bank spokesman said the SEC did not find that any specific individual had intentionally misguided investors. So the new charges, if approved by U.S. District Court Judge Rakoff, will be for negligence instead of fraud, the spokesman said.

Friday brought the first failure of the year as Horizon Bank in Bellingham, Wash., was closed by state regulators.

WASHINGTON — The notion that holding company oversight should be entrusted to a bank's primary supervisor is gaining traction on Capitol Hill.

It has been two weeks since Arianna Huffington began imploring people to move their money to small institutions, and big banks do not appear any worse for the wear.

The Atlanta company has offered private banking services for musicians and motor sports athletes for years. Thomas Carroll (left) said SunTrust's new office in San Diego is only the beginning of its national expansion strategy.

WASHINGTON — The details are still sketchy, but an idea to tie compensation plans to deposit insurance premiums is already dividing the banking industry.

Regulators, with their reputations on the line and anxiety about the future, are forcing some banks to hold on to much of the capital. In recent months, some banks that wanted to fully repay the Troubled Asset Relief Program were allowed to return a fraction.