Enforcement

A former Jefferies & Co. managing director accused of lying to customers about bond prices had his fraud conviction overturned in the latest blow to the government’s effort to hold individuals accountable for alleged wrongdoing on Wall Street.

Poppi Metaxas, the former chief executive of Gateway Bank in Oakland, Calif., was sentenced to 18 months in prison for perpetrating a scheme involving mortgages.

Add retail customers to the list of groups raising concerns about possible high-pressure product-sales tactics at Wells Fargo; many of them are considering jumping ship in response, according to a new survey of customer attitudes at big banks. However, Wells' rivals shouldn't celebrate — they are at risk of losing customers, too, for a variety of reasons.

Sage Bank in Lowell, Mass., has agreed to pay about $1.2 million to settle Justice Department allegations of discrimination against minorities in mortgage lending.

Broadway Financial Corp. in Los Angeles has been released from an enforcement action requiring it to improve its corporate governance.

Three county governments in metro Atlanta have sued Bank of America for engaging in the practice of equity stripping, where the bank targeted minority borrowers with high-interest mortgage loans.

The New York Department of Financial Services has ordered NewDay Financial to surrender its New York State license, as the fallout continues from its exam-cheating scandal.

Mortgage One in Sterling Heights, Mich., has signed a conciliation agreement with the Department of Housing and Urban Development regarding alleged disability discrimination.

Joshua Banschick, a mortgage bond trader at JPMorgan Chase & Co., has returned to work nearly a year after the bank placed him on leave amid government probes into that market.

The former chief executive of a Nebraska bank has been convicted by a federal jury for lying to investors and regulators about considerable losses tied to risky commercial real estate investments.