Retail & Commercial

There are still significant problems in the credit card market despite a 2009 reform law that curtailed billions of dollars in unexpected fees, the Consumer Financial Protection Bureau said in a report Thursday.

WASHINGTON — Small banks are being crushed under the weight of regulations associated with the Dodd-Frank Act, Federal Reserve Chair Janet Yellen acknowledged Thursday, but regulators are working to reduce that burden.

Live Oak Bancshares in Wilmington, N.C., has exited the Small Business Lending Fund.

The operators of a business directory scam allegedly sent collection warnings demanding more than $2,000 for unwanted listings and posed as a third-party collection agency.

Contrary to industry representatives' opinion, overdraft rules are necessary for a service that has become a revenue driver for banks.

The lead plaintiff in a class-action lawsuit filed against Macy’s in New York City accuses the retailer of "coercive collection practice" against minority customers.

Toronto-Dominion Bank said fiscal fourth-quarter profit rose 5.3% as higher earnings from retail banking and gains in trading revenue helped counter C$243 million ($183 million) in restructuring costs tied to job cuts.

Sunshine Bancorp in Plant City, Fla., plans to raise about $12.2 million through a private placement.

Deutsche Bank AG, Europe's largest investment bank, agreed to sell its U.S. private-client services unit to Raymond James Financial as Co-Chief Executive Officer John Cryan seeks to shrink investment-bank operations and lower costs. Terms were not disclosed.

WashingtonFirst Bankshares in Reston, Va., plans to raise up to $31.1 million by selling common stock.