Retail & Commercial

Washington Federal in Seattle said its chief financial officer, Diane Kelleher, plans to step down at yearend.

Severn Bancorp in Annapolis, Md., has hired a former Susquehanna Bancshares executive as its chief lending officer.

In an effort to get a head start on the feeding frenzy, Malvern Federal Savings Bank in Paoli, Pa., will hold job fairs to gobble up employees laid off by BB&T in Pennsylvania.

A task force convened by the Federal Reserve has made substantial progress in its first few months, but the path to real-time payment in the U.S. is still littered with challenges.

The acquisition would be Alerus' first since it bought Private Bank Minnesota in Minneapolis in June 2014. The Beacon deal would boost Alerus' total assets in Minnesota to about $771 million.

The Consumer Financial Protection Bureau has released its latest monthly consumer complaints snapshot, which highlights mortgage complaints.

While banks have significantly decreased their problem assets from their 2010 peak, sour credits remain much higher than in 2006. A number of banks have been reluctant to sell these assets because of low interest rates and a struggle to find better investments.

The Federal Reserve Board has approved enhancements to its automated clearing house service that will require its banks to process same-day payments.

Catskill Hudson Bank in Kingston, N.Y., has hired Orville Aarons as its president. Aarons, a former director at Naugatuck Valley Financial, had been working as a consultant to Catskill Hudson since April.

The Consumer Financial Protection Bureau’s student loan ombudsman has shared concerns over predatory practices in student loan repayment programs, comparing them to those that led to the mortgage crisis several years ago.