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The Friday Express: North American financials

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The Friday Express: North American financials

* Rep. Maxine Waters, D-Calif., called for the break-upof Wells Fargo during Chairman and CEO John Stumpf's hearing before the House FinancialServices Committee hearing yesterday, according to MarketWatch.

* Oregon State Treasurer Ted Wheeler, meanwhile, disclosed thatOregon trust funds, which hold "substantial shares" of Wells Fargo, willpress for management structure and executivecompensation reforms at the company.

* Och-Ziff Capital Management Group LLC reached a settlementwith the U.S. Department of Justice and entered into a deferred prosecution agreement.

* Och-Ziff Capital entered into a securities purchase agreement with certain executive managingdirectors of the company, including CEO and Chairman Daniel Och. Theproceeds from sale are expected to be used to fund payments in connection with thesettlement of the SEC and U.S. Department of Justice investigations related to internationalbribery.

* U.S. Bank NA will pay $13.5million  — $11.9 million in civilpenalties, the balance to resolve Municipal Code violations — to resolve allegationsthat it allowed hundreds of foreclosed properties in Los Angeles to fall into disrepair.

* Corpus Christi, Texas-based Charter Bank will pay $165,820as part of a settlement with the U.S. Department of Justice to resolve .

* In Maryland, MB Bancorp Inc. has parted ways with President and CEO Julia Newton. Philip Phillipswill start serving as president and CEO of the company and unit Madison Bank ofMaryland, effective Sept. 30.

* Hingham, Mass.-based Hingham Institution for Savings' boardelected Cristian Melej as vice presidentand CFO, effective Oct. 17.

* Berkshire Capital Securities LLC appointed Nicholas Sheumack president and co-CEO, effectiveimmediately.

* Redwood Capital and LD&A Jupiter have to form Drake Star Partners, an independentand international investment bank focusing on the technology, media and communicationssectors.

* Springleaf Financial is rebranding as OneMain, effective Oct. 1.

* CNO Financial Group Inc. units Bankers Conseco Life InsuranceCo. and Washington National Insurance Co. are terminating reinsurance agreements with Beechwood Re, effectiveimmediately.

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