Retail & Commercial

In her first major presentation as Wells Fargo's head of retail banking, Mary Mack took on the doubters, making the case for why she is the best fit to lead the embattled retail unit. She laid out plans to revamp compensation and internal culture.

The Federal Deposit Insurance Corp. has received five deposit insurance applications so far this year – an indication that the agency's open-for-business message is being heard by the industry.

Regulators have pressed banks to watch out for rising concentrations of commercial real estate loans. Some banks have paid heed, but others are skyrocketing past recommended thresholds.

Citigroup customers can now dispute credit card charges through its app, one of several mobile enhancements the company rolled out Wednesday.

The Spanish bank has launched a new “online onboarding” feature, which allow customers in Spain to open an account on a mobile device and verify their identity via a photo snapped from their mobile device, it announced Thursday.

OnDeck Capital reported its fourth consecutive quarterly loss on Thursday as investors bought fewer loans and the firm was forced to make costly adjustments to its business.

Two top executives said the scandal-plagued bank has managed to minimize the financial damage and can continue to grow amid some reforms. Yet they acknowledged that the full toll has yet to be realized, and the company announced it had significantly raised its estimated legal exposure.

The intense focus on sales cultures can be frustrating, but it also presents an opportunity for everyone within a bank to get on the same page about what the institution stands for and is trying to accomplish.

Malvern Bancorp in Paoli, Pa., is planning to open a commercial lending office in a new market.

Bay Banks of Virginia in Kilmarnock has agreed to buy Virginia BanCorp in Petersburg.