Retail & Commercial

A collection agency allegedly fraudulently collected more than $31 million from thousands of people across the U.S., a sum that could make it the largest collection scheme ever prosecuted.

Sure, the U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," the HUD Secretary Julian Castro said this week.

CenterState Banks in Davenport, Fla., has agreed to buy Hometown of Homestead Banking Co. in Homestead, Fla.

United Community Banks in Blairsville, Ga., reported higher quarterly earnings despite costs tied to its purchase of Palmetto Bancshares in South Carolina.

First Capital was on Jim Cherry short list of recapitalization targets before the ex-Wachovia executive raised more than $150 million to rebuild Park Sterling in Charlotte. Park Sterling eventually agreed to buy First Capital earlier this month.

"At some point there will probably be a government agency telling us to do this. So why not start now?" says MultiFunding CEO Ami Kassar.

JPMorgan Chase entered the digital wallet wars in announcing Chase Pay, a product that will launch next year. Although mobile payments have been more bark than bite so far, the company says that its product plans to use loyalty programs to lure reluctant consumers.

Flagstar Bancorp in Troy, Mich., reported a third-quarter profit, as it originated more residential mortgages and recorded higher fee income.

A move by the National Labor Relations Board could force more legal liability on franchisors for actions taken by their franchisees. Some observers believe banks could become more reluctant lending to smaller franchisors until the issue has more clarity.