Retail & Commercial

Sound Credit Union in Tacoma, Wash., has agreed to buy Bank of Washington in Lynnewood.

The San Juan company has largely recovered from the hurricane that hit a year ago, and it has made extensive preparations for future natural disasters. Yet its home market is still suffering from debt and net outmigration of residents.

The central bank said the proposal is intended to eliminate duplication of rules for entities covered by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

The agency wants more information as it conducts fair-lending exams, but conflicting statutes make writing a data collection rule difficult.

Union Bankshares in Virginia has been adding executives from much larger competitors as it looks to compete more effectively with bigger banks

The Dallas company said a commercial client submitted falsified documents that inflated how much colloteral it had available.

Flipkart, an Indian e-commerce company which Walmart bought in August, has launched a cardless credit program for consumers and is expected to apply for an NBFC licence, or a classification as non-bank that provides credit and other financial services in India.

The acquisitive company plans to buy Blue Hills Bancorp to boost its footprint in eastern Massachusetts.

When the Birmingham, Ala., bank was rethinking its branch strategy, it had to reconsider the role of its tellers. Ultimately, it decided to transition those workers to a more general banker role that emphasizes meaningful conversations with customers and continuous career progression.

The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.