Retail & Commercial

Two startups are working to educate millennials on the importance of credit and issue them small credit lines. Credit to young adults largely dried up following the CARD Act of 2009, which changed the way banks and others could market to the group.

Shares of Valley National Bancorp. slumped Wednesday after the Wayne, N.J., company reported a first-quarter profit that fell short of analysts' expectations.

Bank of America executives plan to keep investing in technology and selectively expanding its branch presence, but it is urging increasingly restless shareholders to be patient so that it can grow gradually and avoid the pitfalls of banking's recent past.

The Financial Accounting Standards Board gave final approval Wednesday to its controversial Current Expected Credit Loss standard, but agreed to delay its implementation deadlines by a year in response to protests from banks and credit unions.

First-quarter net income at the $22 billion-asset company fell 6.4% to $69 million year over year and earnings per share fell 6.7% to 98 cents.

Some banks in Texas and Oklahoma are likely to start scouting acquisitions in states such as Colorado and California so that their fortunes are not so tied to the energy sector.

First Mid-Illinois Bancshares in Mattoon has agreed to buy First Clover Leaf Financial in Edwardsville, Ill.

United Community Banks reported strong revenue and earnings gains in the first quarter thanks largely to a pair of recent acquisitions.

The potentially wide-ranging effects of an appeals court decision in Midland Funding v. Madden could deal a serious blow to preemption under the National Bank Act.

With the purchase of Sweep, Max Levchin's firm is betting that daily engagement with consumers will pay long-term dividends.