office of the comptroller of the currency

Losses on loans made to investors rehabilitating city homes helped drive a small savings bank founded by immigrants in East Baltimore more than 100 years ago to failure, said the CEO of the bank that acquired much of its portfolio.

Bay Bank agreed to assume the deposits and most of the assets of Slavie Federal Savings Bank, after federal regulators closed the savings bank with offices in Bel Air and Baltimore.

Fairmount Bancorp Inc. of Baltimore County said Monday it is now a Maryland-chartered commercial bank, converting from a federally chartered savings bank last week.

Federal officials are refusing to turn over key information about process for compensating homeowners

Last month's high foreclosure rate wasn't an anomaly. For about a year, Maryland's foreclosure numbers have been among the highest in the country. That's largely because the foreclosure process here requires judicial oversight, drawing out the time it takes for banks to claim a property.

The deadline is about three weeks away for homeowners to request a free, independent review of foreclosure actions that were in process during 2009 or 2010.

CFPB orders Capital One to return tens of millions of dollars to consumers

Under a landmark $175 million deal, Wells Fargo Bank will provide $7.5 million to the city of Baltimore to settle claims it engaged in price discrimination in its subprime mortgage lending practices.

Two Baltimore-area banks have changed their charters to be regulated by the state rather than the federal government.

Maryland groups to get $2.5 million

Some traditional lenders offer what consumer advocates call payday loans

Consumer advocates learned this past weekend that they won't get their first choice to lead the new consumer protection agency. Despite the setback, this still is a big week for consumer protection.