The Consumer Financial Protection Bureau plans to review credit card rules as the qualified mortgage rule. Rohit Chopra, the CFPB’s director, said in a Friday blog post that the bureau will look at changes made to the QM rule’s underwriting standards, along with the CARD Act and the Fair Credit Reporting Act. “The CFPB aspires to more clearly communicate the agency’s expectations in simple and straightforward terms, which will produce more durable guidance

New Peoples Bank in Honaker, Va., is working through systems outages.The $813 million-asset bank said in a post on its website that it “is working diligently to address and investigate a recent incident” that is interrupting the operation of its computer systems. The bank, which is looking to restore its computer systems “as quickly and safely as possible," said on its Facebook page that the issues began on Wednesday. New Peoples said, for

First National Bank & Trust in Iron Mountain, Mich., has a new president. The $421 million-asset bank said Russell Kassin had succeeded David Kashian, who will remain chairman and CEO until 2023.“Our goal during this period is to make this transition to the next generation of leadership as seamless and transparent as possible for all of our stakeholders," Kashian told the Iron Mountain Daily News. Kassin “is an outstanding choice as my

Amerant Bancorp in Coral Gables, Fla., will enter the Tampa, Fla., market after hiring a team of bankers. The $7.8 billion-asset company said in a press release Thursday that the group will be led by Jason Russek, who was named market president. He previously served as a regional director of commercial banking at BankUnited, according to his LinkedIn profile. Russek will oversee a team of six commercial bankers. The office will

Atlantic Union Bankshares in Richmond, Va., has added a banking veteran to its board. The $19.8 billion-asset company said in a press release Thursday that Rilla Delorier had become a director, effective immediately. Delorier recently served as chief strategy and digital transformation officer at Umpqua Bank. She serves on the boards of Nymbus and Coastal Community Bank in Everett, Wash. Delorier “has an extensive background in multiple banking disciplines, including marketing, technology and

VersaBank in London, Ontario, has agreed to buy Stearns Bank Holdingford in Holdingford, Minn.The $2.1 billion-asset Canadian bank said in a press release that it will pay $13.5 million to Stearns Financial Services for the $60 million-asset Stearns. The deal is expected to close by Oct. 31. Stearns Financial would retain its Stearns Bank and Stearns Bank Upsala subsidiaries.VersaBank said that buying Stearns, a national bank regulated by the Office of

Zions Bancorp. in Salt Lake City is the latest bank to rein in overdraft and nonsufficient funds (NSF) fees.The $91 billion-asset company said in a press release that the changes, which will take place on July 13, include the elimination of a continuing overdraft fee and the end of NSF fees for items that are returned unpaid because of nonsufficient funds.Zions plans to reduce the NSF fee by more than

A group of legislators led by Sen. Elizabeth Warren, D-Mass., wants the Office of the Comptroller of the Currency to reject TD Bank Group’s planned purchase of First Horizon in Memphis, Tenn. The lawmakers, which include Reps. Katie Porter, D-Calif., Al Green, D-Texas, and Jesus Garcia, D-Ill., are citing a May 4 report that claimed the Canadian bank had similar incentives to those tied to the fake-accounts scandal at Wells Fargo. “As