Retail & Commercial

A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.

The service should help Uber better compete with Lyft, a rival app-based taxi service that can now pay its drivers instantly. It could also be provide a new revenue source for Green Dot's struggling GoBank unit.

Atlantic Bancshares in Bluffton, S.C., has raised about $4 million to redeem shares issued through the Troubled Asset Relief Program.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

Umpqua Holdings in Portland, Ore., plans to close 26 branches in Oregon, California, Idaho and Washington state in an effort to cut costs.

Moody’s Investors Service, which put three of Citigroup’s securitizations of unsecured consumer loans originated by Prosper Marketplace under review for a downgrade, was not invited to rate the latest offering.

An Illinois appeals panel found that collection agency HBLC may have broken federal collection laws by suing a man over a contested debt after the statute of limitations had expired.

Payday loan customers in Alabama would pay less under a bill that won approval Wednesday from the Alabama House Financial Services Committee.

Consolidation is increasing risk to the Federal Deposit Insurance Corp. while reducing diversification in the industry.

If the Federal Reserve raises short-term rates in June, market volatility will spur investors to buy long-term bonds, driving down the 30-year mortgage rate to around 3%, consultant Barry Habib argues.