Finance

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

Bank of America's board approved the repurchase of as much as $800 million in shares, joining JPMorgan Chase and Capital One Financial this year in returning more capital to shareholders.

Atlantic Bancshares in Bluffton, S.C., has raised about $4 million to redeem shares issued through the Troubled Asset Relief Program.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

Loans outpacing GDP and the expressed optimism of CEOs on recent earnings calls are among the signs that growth figures are too good to be true.

First Resource Bank in Exton, Pa., has redeemed its remaining preferred shares tied to the Small Business Lending Fund.

Tidelands Bancshares in Mount Pleasant, S.C., has been declared in default on $18.3 million of trust-preferred securities.

The Federal Home Loan Bank of San Francisco is exploring ways to use $40 million it received as part of a private-label securities settlement to support small-business development and job creation to help future homebuyers.

Ray Grace, North Carolina's banking commissioner, believes federal bank regulators should embrace charters for banks dedicated to innovation. Doing so, he said, would help the banking industry secure its spot as a "laboratory for change."

EverBank Financial in Jacksonville, Fla., plans to raise $90 million through a public offering of subordinated debt.

That is the message from North Carolina's banking commissioner and others who think the odds of preventing the rule are so low, and the amount of preparation needed to comply so great, that bankers should get real.

Not only are widening credit spreads for both banks and the companies they lend to a red flag, but the financial sector is also feeling a hit from lower energy prices.

Peoples Bancorp in Marietta, Ohio, has obtained a $15 million credit line and has paid off an earlier loan.

Add BB&T to the list of banks bolstering reserves because of growing concerns about energy exposure.

Alamogordo Financial in Alamogordo, N.M., plans to convert from a mutual to a fully stock-owned bank holding company.

HarborOne Bank, a mutually owned co-operative bank in Brockton, Mass., plans to sell shares to the public.

A new Federal Reserve Bank report opens the door for retailer groups to push again for even lower transaction fees by deflating the argument that small banks have been harmed by the Durbin amendment's reduced debit transaction fees for larger banks.

The $8.2 billion-asset company will issue about 4.9 million shares at $14.50 apiece, according to a news release Thursday.

Citizens Financial Group in Providence, R.I., plans to repurchase $125 million in subordinated notes to improve its efficiency and capital structure.

Preparing for the inevitable future credit crisis by setting aside more loss reserves is a step toward avoiding government bailouts.