Retail & Commercial

Steve Streit, who founded the prepaid card pioneer in 1999, is taking fire from an investment firm that owns 6.2% of the company.

Bank of America and nine other banks have agreed to pay about $63 million to settle claims they misled the state of Virginia into buying faulty residential mortgage-backed securities.

The $13.8 billion-asset company said Monday after the market closed that it earned $21.2 million, down roughly 26% from a year earlier.

Enterprise Financial Services in Clayton, Mo., has acquired a $21 million loan portfolio as part of its formation of an aircraft financing unit.

Sun Bancorp in Mount Laurel, N.J., has agreed to pay $25,000 to resolve issues connected to the company’s former Sun Home Loans division.

Banks are looking to beef up ease and convenience in P-to-P payments to avoid being reduced solely to back-end payments processors for fintech startups.

Cape Cod Five Cents Savings Bank in Orleans, Mass., has agreed to buy a branch in Falmouth, Mass., from Mutual Bank.

Bank of New York Mellon has become a big believer in reverse mortgages, particularly home equity conversion mortgages insured by the Federal Housing Administration.

Bank of Hawaii in Honolulu said Monday that its fourth-quarter profit rose 3.98% to $42.8 million from a year earlier as loan growth offset lower fee income.

NEW YORK — Despite crippling amounts of snow from behemoth winter storm Jonas, most credit unions are operating relatively normally, according to leagues in some of the hardest-hit states in the Eastern U.S.