Retail & Commercial

The Pennsylvania company chose to sell to a much larger bank rather than buy smaller rivals or manage assets to delay added regulatory burden. More banks could follow that example. The only thing missing is interest from regional suitors.

Promontory Financial Group on Tuesday agreed to a $15 million settlement, and a six-month ban from accepting certain new consulting work in New York, to resolve an investigation by the state's department of financial services into its consulting work at Standard Chartered Bank.

Home BancShares in Conway, Ark., has promoted John "Stephen" Tipton to chief operating officer, after the position had been vacant for about five years.

The North Carolina regional bank is placing a big bet that targeting Pennsylvania's high earners will offset the state's reputation for having slower-than-average growth.

Simmons First National in Pine Bluff, Ark., has promoted several executives, as David Bartlett announced his plans to retire as president and chief banking officer.

Bank of New York Mellon has agreed to pay $14.8 million to settle Securities and Exchange Commission allegations that it used its internship program to violate the Foreign Corrupt Practices Act.

Activist investor Joseph Stilwell is demanding that Carroll Bancorp in Sykesville, Md., pick up the pace on stock buybacks.

Target Corp. reached a settlement with Visa Inc. over a hacker attack that struck the chain during the 2013 holiday season and exposed millions of customers' personal information.

Regent Bank in Davie, Fla., has promoted Dawn Calder to the newly created position of chief credit officer.

The mortgage delinquency rate - the rate of borrowers 60 days or more delinquent on their mortgages - continued its fast decline, falling to 2.72% in the second quarter ended June 30, according to TransUnion.