Retail & Commercial

More companies are using installment payments to lure consumers away from credit cards, and MasterCard is testing a model that could lure them back.

Ocwen Financial Corp. will pay $2 million to settle charges that it misstated its financial results in valuing complex mortgage assets, said the Securities and Exchange Commission.

Debt-buying giant PRA Group Inc.'s stock fell Wednesday to a 52-week low. After opening at $27.60, PRA Group dropped to $26.75. By the closing bell, the company's stock was at $27.72 a share for a loss of 0.89%.

Texas Capital Bancshares in Dallas reported lower quarterly profit that largely reflected an increased provision for energy loan losses.

WestStar Bank in El Paso, Texas, has new leadership after the retirement of Larry Patton, its president and chief executive.

The San Francisco bank's cross-selling ratio has begun to sputter, raising questions about whether its aggressive sales approach is starting to chase off too many customers. The problem is more than Wells Fargo's, too, since so many banks have sought to imitate its strategy for selling each customer multiple products.

The House Financial Services Committee argues that the CFPB ignored a Justice Department request to narrow the list of potential consumers harmed in the Ally case, purposely casting a wider net for political purposes.

United Community Banks in Blairsville, Ga., reported little change in its fourth-quarter profit, as costs from its acquisition of Palmetto Bancshares ate into lending revenue and fee income.

LendUp, which makes subprime consumer loans online and over mobile phones, announced Wednesday that it has raised $50 million in equity funding, plus an additional $100 million in debt financing.

Union Bank & Trust Co. in Nebraska was an early supporter of Apple Pay. With that platform sputtering, the bank is now looking at additional ways to stay ahead of the mobile-wallet curve.