Retail & Commercial

Amalgamated Bank in New York has recruited a former American Express executive to develop its online banking platform and has created a new position to oversee corporate philanthropy.

USAmeriBancorp in Clearwater, Fla., has completed a private placement to institutional investors of $45 million in subordinated notes.

In an interview, FDIC Chairman Martin Gruenberg said the agency will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt — like Citizens Financial and SoFi — see an opportunity to reel in more customers.

Ally Financial announced Tuesday that it had agreed to buy the online brokerage firm TradeKing Group for approximately $275 million. TradeKing, based in Fort Lauderdale, Fla., has roughly $4.5 billion in client assets.

ITT Technical Institute exaggerated its job-placement rates by counting "any job graduates got that somehow involved the use of a computer" and misled prospective students about the quality of its programs, according to a lawsuit filed Monday.

Donald Trump proposed to block billions of dollars in payments immigrants send back to Mexico if the government there refuses to pay for a border wall, in a potentially devastating move for Mexico's economy.

A federal judge in Michigan has dismissed a proposed class-action lawsuit accusing debt buyer Encore Capital Group of suing consumers over old debts that were no longer legally enforceable.

U.S. Bank's steep price for instant payments risks limiting the feature's appeal. Rather than overcharging, banks need to think longer-term about how to drive payments volume.

State Bank Financial in Atlanta has agreed to buy NBG Bancorp in Athens, Ga.