Banking

The latest fine from regulators was leveled against the bank on Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way.

However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

Investors are growing worried about lackluster loan growth this year at community banks.

The bank says its partnership with Lender Price will help streamline and simplify its home loan process.

TriStar Bank in Tennessee says a shortage of appraisers is slowing down its commercial real estate lending and raising the cost of appraisals. The claim has outraged appraisers, who argue that the bank is simply trying to avoid paying their fees.

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.