Retail & Commercial

The former chairman of the failed Premier Bank in Wilmette, Ill., was sentenced to five years in prison after he pleaded guilty to defrauding the Treasury Department's Troubled Asset Relief Program.

The Consumer Financial Protection Bureau and the New York Attorney General filed a lawsuit Wednesday against two New York debt collectors for deceiving and harassing millions of consumers to pay inflated debts.

If modified, the cybersecurity standards in New York State are a step in the right direction to protect banks and consumers.

Freddie Mac's credit risk transfers come with a hefty price tag, but are ultimately still worth it, according to Chief Executive Don Layton.

Some former customers of First Niagara Bank in Buffalo, N.Y., which was bought by KeyCorp last month, will receive up to $22 million in refunds of overdraft and bounced-check fees, according to a recently disclosed regulatory order.

Disintermediation is so five years ago, according to Cross River Bank in New Jersey. It just raised $28 million from Silicon Valley. Now, it wants to enhance its compliance system so it can partner with "riskier" fintech startups and, effectively, enable the industry's so-called disruptors.

Cathay General Bancorp in Los Angeles has agreed to a community reinvestment plan tied to its deal to buy SinoPac Bancorp from Bank SinoPac in Taiwan.

BNC Bancorp in High Point, N.C., has rebranded its banking unit to reflect its expansion beyond the Tarheel State. The $7.5 billion-asset company said in a press release Tuesday that Bank of North Carolina is now BNC Bank.

Low-income urban youth methodically saved money when taught about goal-setting and given access to savings accounts and other basic banking tools.

SunTrust Banks in Atlanta has agreed to open almost 200 new locations of Operation Hope's financial-counseling centers inside its branches by 2020.