Banks Replace Executives
A $22 billion bank based in Connecticut has named a new chief, while a Michigan-based institution lost one if its directors to a hedge fund. Several other sizable institutions also made changes among their executive ranks. After a quarter century at the banking sector's primary trade group, the top executive is leaving.

Following "an extensive executive search," People's United Financial Inc. announced that John P. Barnes was named president and chief executive officer of the $22 billion bank-holding company. Barnes has also joined the Bridgeport, Conn.-based firm's board of directors.

Barnes, who was considered along with other internal and external candidates, took over as interim president and CEO when Philip R. Sherringham left in April.
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BofA Mortgage Unit Launches New Program for Banks
A new program for members of the American Bankers Association has been introduced by Bank of America Home Loans.

Brokering, Lending Legislated
As lawmakers in two states have rejected bills that would have imposed stiffer requirements on mortgage brokers, Wisconsin's government passed a new broker law. Two broker groups have voiced their support for different federal bills, and legislation introduced in South Carolina could force borrowers into shorter term loans.

Associations Appoint Executives
Trade groups tied to reverse mortgage lenders, U.S. financial institutions and bank leaders in Mississippi all recently announced executive appointments.

Associations Appoint Executives
Trade groups tied to reverse mortgage lenders, U.S. financial institutions and bank leaders in Mississippi all recently announced executive appointments.

Mortgage Bankers: Legislation Could Have Been Worse
Legislation agreed to by both houses of Congress could have been much worse for the industry, according to mortgage bankers. But, as one trade group executive said, the devil is in the details.

Regulatory Executive Moves
Executive additions at the country's housing agency and the primary trade group representing mortgage lenders will help the two organizations improve interactions with elected officials. Three regulators that are responsible for financial institutions announced several appointments.

Mortgage Compliance Association Debuts
A new trade group hopes to help mortgage compliance service providers improve communication with lenders and borrowers.

Management Changes at Regulators
Executive appointments were recently made at the board that disciplines Federal Housing Administration mortgagees, the regulator of Fannie Mae and Freddie Mac and the nation's credit union regulator. A big mortgage trade group made some appointments of its own.

Mortgage Bankers Descend on Lawmakers Mortgage bankers this week head to the nation's capitol to enlighten lawmakers about real estate finance issues. Other upcoming events include a bankruptcy workshop, a technology conference and training for customers of the Government National Mortgage Association.