Retail & Commercial

Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor.

The Supreme Court on Monday asked the executive branch for its views on a legal case that has sparked worry within the financial industry. That opinion is expected to have a big impact on whether the justices decide to hear Madden v. Midland Funding.

American Express cut chief executive officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year.

American Express Co. cut Chief Executive Officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year.

Lincoln Park Savings Bank in New Jersey is now Lincoln 1st Bank.

Federal financial regulators have instructed banks to extend procedures for collecting customer identification information to certain holders of prepaid cards.

Capital Bank Financial in Charlotte, N.C., will record a first-quarter $5.5 million net loss, after it agreed to an early termination of its loss-share agreements tied to three failed banks.

Germany's solarisBank is hoping to power the next wave in fintech evolution, by allowing companies to use its banking license and APIs to build scale in their businesses.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issues a proposal to rein in high-cost payday loans. A chief concern is what will replace payday lenders if federal regulations force many of them to shut down.

A dozen banks from Arkansas to Virginia are nearing $10 billion in assets, where they will face higher compliance costs and caps on interchange fees. Mergers among those institutions could create a new class of regional bank.