Retail & Commercial

Even without a change in federal law, banks can manage the risks associated with the marijuana business, argues a former federal bank examiner who now works in the cannabis industry.

Middlesex Savings Bank in Natick, Mass., has promoted a senior banker to chief commercial credit officer.

U.S. lawmakers called for federal investigations into Clayton Homes, the mobile-home business at Warren Buffett's Berkshire Hathaway, after the Seattle Times and BuzzFeed News wrote that the company targeted minority borrowers and charged them higher interest rates on average than whites.

Independent mortgage lenders are expecting a wave of consolidation prompted by excessive compliance costs, a tepid housing recovery and the need for more capital to grow their businesses. Roughly 20% to 25% of independent companies could be eliminated or change hands in less than two years.

Loading mobile wallets at the ATM is one of several ways Andy Mattes, CEO of Diebold, envisions consumers using their smartphones alongside cash machines.

GC Services LP, a nearly 60-year-old accounts receivable management company, has been sold for undisclosed terms.

PayPal Holdings has named the head of a cryptocurrency firm to its board.

Consumers increasingly fell behind on their payments in several loan categories in the third quarter as economic growth cooled.

There is a growing belief that reserves for energy loans should represent 5% of a bank's exposure to the sector. Three banks have already announced plans to move in that direction, prompting speculation as to which other lenders will be next.

Discover has taken a deeper step into the airline miles rewards card competition, shifting the tone of its TV advertising with its first commercial for the It Miles card it introduced last year.