Retail & Commercial

The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.

An 11-page paper by the agency signaled its intent to take a higher-profile role in ensuring that regulators are not inappropriately hampering banks' adoption of new technologies to reach customers, while also keeping an eye out that institutions are able to handle the risks involved.

BNC Bancorp in High Point, N.C., has delayed the closing of its acquisition of Southcoast Financial in Mount Pleasant, S.C., as the Federal Reserve has not completed its review of the deal.

AmeriServ Financial in Johnstown, Pa., will record a first-quarter loss because an unnamed energy-sector client plans to liquidate under bankruptcy protection.

Bank of America appears to be retaining more deposits from recent branch sales, using technological advancements to keep customers despite the lack of a physical location.

Competition is spurring subprime auto lenders to stretch their underwriting guidelines for new customers, raising fears of another bust. In February, 5.16% of securitized subprime auto loans were at least 60 days past due, according to Fitch Ratings. That slightly exceeded the level of late payments at the height of the Great Recession. Here's a guide to who's doing what in the market, courtesy of our colleagues at Asset Securitization Report.

A white paper released Thursday said the agency might issue new guidance on fintech product development, third-party risk management and new products targeting the underbanked; streamline its licensing procedures; and appoint experts on "responsible innovation." It is still deciding whether to open an office dedicated to monitoring the fintech sector.

To help make instant payments a reality, regulators here and abroad should encourage multiple approaches, thus avoiding the temptation to mandate a single solution.

Brickell Bank in Miami has bought a trade finance portfolio from the investment brokerage firm INTL FCStone.

Blue Ridge Bankshares in Luray, Va., has agreed to buy River Bancorp in Martinsville, Va.