Retail & Commercial

Financial institutions worldwide are exploring the possibilities for faster, cheaper, more transparent processing of global payments in near real time offered by distributed software solutions, including blockchains and distributed ledgers. Because this is a new field of study, these technologies are often misunderstood or mischaracterized.

Hancock Holding in Gulfport, Miss., reported lower second-quarter profit, citing higher incentive pay for employees and lower yields on both loans and securities.

City National Bank in Los Angeles said Thursday that its second-quarter profit rose 5% from the same period last year, driven by heavier demand for commercial loans.

Wells Fargo tapped the head of its wholesale services unit to lead a new research and development division.

National Penn Bancshares in Allentown, Pa., said its second-quarter profit improved as increased real estate lending offset higher expenses.

F.N.B. in Pittsburgh reported higher second-quarter profit as it booked more commercial real estate and business loans.

First Interstate BancSystem in Billings, Mont., will soon have a new chief executive.

A Senate committee approved legislation Thursday that would offer some protection from federal authorities to banks and credit unions doing business with state-authorized marijuana merchants.

Visa Inc. shares surged 7.5 percent after the world's biggest payments network said it expects to complete discussions over a potential deal to acquire Visa Europe Ltd. by the end of October.

Capital One Financial reported quarterly profit that fell well short of analysts' forecasts due to a high loan-loss provision, restructuring charges and a legal reserve in the United Kingdom.