Retail & Commercial

In a series of internal documents that were reviewed by American Banker, Consumer Financial Protection Bureau officials repeatedly acknowledge its methodology could overcount the potential discrimination by firms, but say they prefer that to the alternative where bias is underestimated.

Merchants Bank of Bangor in Pennsylvania has tapped its chief operating officer, Tracey Smith, to become chief executive next year.

The Bank of New Mexico said that its chairman and chief executive will switch roles at the beginning of next year.

Brian Moynihan, Bank of America's chairman and CEO, told investors Thursday that revenue from fixed-income and equity markets should decline by 5% to 6% in the third quarter compared with a year ago. The Charlotte, N.C., bank will continue to have a higher efficiency ratio relative to its peers because of the high costs of paying financial advisers.

Codorus Valley Bancorp in York, Pa., has Brian Brunner to the board of its PeoplesBank. Brunner is the division president of account and item processing sales within Fiserv's global sales organization.

Interest rates are still at zero, and banks will still be OK — though they may have to do a little scrambling. That could mean a shift away from short-term, rate-sensitive assets, or yet another round of cost-cutting.

The quest for secure, yet really quick and easy enrollment and login for bank accounts, has evaded banks for years, and it’s become more important than ever.

Wells Fargo is raising minimum credit score requirements on Federal Housing Administration loans, part of the ongoing jockeying by large banks to limit lawsuits by the Justice Department for defective FHA loans.

House lawmakers from both parties had tough words Thursday for the National Credit Union Administration about its revised risk-based capital proposal.

Activity at credit unions has been on the rise since the Bank Transfer Day movement in November 2011. It remains to be seen, however, if credit unions can succeed at keeping many of those relationships.