Retail & Commercial

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.

The U.S. is the only industrialized nation without mandated paid parental leave, but innovative leave policies are an opportunity to attract and retain employees in a highly competitive industry.

Opus Bank in Irvine, Calif., which reported a third-quarter loss tied to credit issues, has elevated two lending officers to executive-level posts.

Wells Fargo & Co. said the Securities and Exchange Commission is among regulators investigating the bank's sales practices following a scandal involving employees opening unauthorized customer accounts.

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

The number of new credit card accounts jumped 11% to 84.9 million in the second quarter while monthly purchase volumes also increased, according to a report by the American Bankers Association.