Retail & Commercial

Harmony Bank in Jackson, N.J., has exited the Small Business Lending Fund. The $ 295 million-asset company said in a press release Tuesday that it paid about $3.5 million to redeem roughly 3,500 shares of preferred stock.

Biscayne Bank in Miami, a community bank that focuses on serving high-net-worth individuals from the Caribbean and Latin America, has been named as an intermediary in the Panama Papers leak.

MuniServices LLC, a business of debt-buying giant PRA Group, will offer aspiring municipal leaders a chance to learn about strategic financial administration through a new certification program.

A recent story in American Banker reported that at least three banks are planning to launch new small-dollar loans products after the Consumer Financial Protection Bureau's payday lending rule becomes effective.

Requiring the bank regulators to disclose the numerical grades they give for capital, assets and other factors would subject them to the same market discipline they demand for banks.

Grant Bancshares in Natchitoches, La., has agreed to buy Tri-State Bank and Trust in Haughton, La.

The San Jose (Calif.) City Council is reviewing the best way to recover the overdue fines without also chasing people away.

Prosper Marketplace Inc. has met with investors including Fortress Investment Group about potential capital injections, according to a person with knowledge of the matter.

Google should be applauded for deciding to ban payday loan-sponsored ads. But it should tweak some of the details so legitimate lenders can still advertise.

LendingClub Corp., which plunged 51 percent last week after the surprise departure of its leader and disclosure of faulty internal controls, said the scandal is prompting investors to suspend debt purchases and spurring government probes.