Retail & Commercial

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.

The Stamford, Conn.-based credit card issuer expects to be independent by the end of the year, and predicts that it will benefit from its separation from General Electric.

Faster payments have a lot of benefits — and one big downside. A new electronic payments system could make it easier for people to unwittingly send money to scammers and harder for fraud victims to get their money back.

Prudential Bancorp in Philadelphia has named Anthony Migliorino to the newly created job of chief operating officer.

Fiserv has completed a test run of its card-free ATM software, in partnership with VyStar Credit Union.

A total of 109,561 U.S. properties had foreclosure filings - default notices, scheduled auctions and bank repossessions - in August, down 12% from July and down 6% from a year ago.

The results of a nine-year study of consumers enrolled in debt settlement programs show consumers realize financial benefits and have a higher probability of success since regulatory reforms took effect in 2010.

Fundera, which runs a website where small-business owners can shop for loans, has raised $11.5 million in new equity funding.