Retail & Commercial

A group of CoBank ACB bondholders, including Capital Group Cos., are suing the farm lender after it repurchased $405 million of high-interest bonds over their objections.

The $3.2 billion-asset Park Sterling announced this week that it will hire four commercial and industrial bankers from the $2.3 billion-asset CommunityOne Bancorp to help expand its commercial banking team in the Charlotte metropolitan area.

Community banks and credit unions have banded together to use their combined bargaining power to wrest better terms from what they regard as an oligopoly of core processing vendors.

Banks will likely take a wait-and-see approach before connecting their apps to Siri, Apple's talking digital assistant. Such conservatism poses risks as consumers increasingly demand the latest digital features.

Stonegate Bank in Florida has introduced a credit card that its customers can use in Cuba. In doing so, the $2.5 billion-asset bank, in Pompano Beach becomes first U.S. bank to make credit cards available for use in the Caribbean island nation.

Bank of Tokyo Mitsubishi UFJ has confirmed it is developing a digital currency backed by a blockchain, the same kind of technology that underpins bitcoin.

Bankers are donating money and promoting blood drives in the wake of the deadliest mass shooting in U.S. history. However, a long-term strategy to stay involved with the issues that the tragedy has brought to light is also considered important.

At the same time federal regulators are cracking down on payday loans, another form of short-term credit for low-income Americans is staging an unexpected comeback.

Southside Bancshares in Tyler, Texas, said that Sam Dawson, its chief executive since 2012, will retire at the end of the year and that its president, Lee Gibson, will succeed him.

At least one school district will soon review hiring a collection agency to offset aid it is not receiving as a result of the state's budget crisis.