Retail & Commercial

A lawsuit filed Tuesday in U.S. District Court in Santa Ana, Calif., targets the collection system used on several toll roads operated by the state’s Transportation Corridor Agencies.

Consumers applying for a new mortgage are on average two to three times more likely to open a new auto loan or credit card account over the next 12 months, according to a new TransUnion study. Many of these consumers open these accounts as soon as one month after their existing mortgage payoff.

New research findings challenge common assumptions about borrower behavior, illustrating how trended data — something mortgage lenders will soon be required to collect — could be a game-changer.

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.

The $25 billion-asset subsidiary of First Horizon National said in a press release Wednesday that Louis Allen, executive vice president and manager of commercial banking for the bank's west Tennessee region, will be promoted to regional president June 30.

Fulton Financial in Lancaster, Pa., has hired Lynn Ozer as president of Small Business Administration lending. Before joining Fulton, Ozer led a small-business lending team at Susquehanna Bancshares that was largely dismissed after the company's sale to BB&T.

Valley National Bank in Wayne, N.J., has appointed former PNC executive Robert Bardusch to be its chief information officer.

TCF Financial in Minnesota has launched a set of products targeting low-income customers. The company, which has closed a fifth of its branches in recent years, hopes underbanked clients will boost traffic at its remaining locations.

A report by the Conference of State Bank Supervisors found that consolidated companies with money transmitter licenses fell more than 10% from 518 in the first quarter of 2015, to 456 this year.

FleetCor has partnered with IBM Cloud services to help manage increasing customer demand and data as it grows its business into new markets.