Retail & Commercial

American Express Co., the biggest credit-card issuer by purchases, posted second-quarter profit that beat analysts' estimates as expenses fell.

The Mortgage Bankers Association on Wednesday said the housing market recovery has shifted to "a higher gear," and it raised its forecasts for total originations and home purchases for this year and 2016.

Central Bancshares in Muscatine, Iowa, will change the name of some of its banks to CBI Bank & Trust.

Amex will terminate its agreement with Costco in the U.S. next year, a relationship that accounted for 20 percent of Amex's worldwide loans and 8 percent of customer spending.

HCBF Holding Co. in Fort Pierce, Fla., has agreed to buy OGS Investments in Gainesville, Fla.

Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.

Fulton Financial in Lancaster, Pa., reported lower second-quarter profit, as low interest rates pressured lower yields on earning assets.

Buyout heavyweight Accel-KKR just bought a stake in Banker's Toolbox, a software company that helps community banks flag fraud. The PE firm says it was on the hunt for investments in the compliance space given the regulatory climate.

The federal government's first broad inquiry into the fast-growing peer-to-peer loan industry raises several important questions, including whether banks will lobby for a clampdown on these lightly regulated competitors.

Discover Financial Services will refund $16 million to consumers and pay a $2.5 million penalty to resolve U.S. Consumer Financial Protection Bureau claims that the bank engaged in illegal student loan servicing practices.