Retail & Commercial

Wells Fargo & Co. eliminated product sales goals for its consumer bankers as the company seeks to reassure regulators, lawmakers and customers after employees opened accounts without clients' approval.

A fintech startup called Point is allowing consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.

New credit card accounts at JPMorgan Chase have grown by double digits thanks partly to its embrace of borrowers with lower FICO scores, but it sought to reassure investors that credit quality has suffered only slightly.

The Consumer Financial Protection Bureau said Monday it has ordered Bridgepoint Education to refund $23.5 million for deceiving students into taking out private student loans that cost more than advertised.

Cambridge Bancorp in Massachusetts has recruited two finance executives to spearhead its new asset-based lending practice.

Lending Club, which has been rebuilding its executive ranks in the wake of a recent scandal, is hiring Thomas Casey as its chief financial officer.

The $222 billion-asset company has not yet publicly stated the number of branches or markets to be affected, but it "would be closing and consolidating some branches in early December," BB&T spokesman David White on Monday.

Customers Bancorp in Wyomissing, Pa., is seeking to raise as much as $133.5 million through two avenues: a newly announced preferred stock offering and previously announced secondary sales of common stock.

Digital payments tools can help commercial clients run their business more efficiently, but in a world still dominated by paper checks banks may need to show their customers the benefits.

Years of branch closures and job cuts are paying off for banks in the form of much-improved efficiency ratios. But with low interest rates still crimping profits, banks remain under pressure to continue reducing expenses.