Retail & Commercial

Complaints against collection agencies have dropped nearly 20% in two years and debt collectors in 2015 earned a higher complaint resolution rate than the all-industry rate, according to the Council of Better Business Bureaus.

First Citizens BancShares in Raleigh, N.C., has agreed to buy Cordia Bancorp in Midlothian, Va.

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TD Bank announced Thursday that it is doing away with the Penny Arcade coin-counting machines that are stationed in more than 1,000 of its branches along the East Coast.

A former head of the U.S. unit of Dutch-owned insurance company Aegon has been named chairman of a community bank in Illinois.

Royal Bank of Canada has plucked away executives from Wells Fargo and Credit Suisse to be the co-heads of its consumer investment banking business, according to a news report.

A new Labor Department regulation designed to make more American workers eligible for overtime pay stands to add costs and slow hiring at community banks.

The agency posted its semiannual rulemaking agenda on a blog late Wednesday updating the next steps it will take on several areas of rulemaking. The CFPB expects to issue rules for prepaid reloadable cards, mortgage servicing and mortgage disclosures this summer but set no specific deadlines yet on overdraft and debt collection.

Banc of California’s shareholders delivered a pair of rebukes for the Irvine company’s management.

UMB Financial took its lumps last year when its funds management business suffered from large outflows. The challenge prompted UMB to tighten up on expenses and rely more on revenue tied to its balance sheet.