Retail & Commercial

While some predict that fintech startups will soon overthrow banks, a boom in partnerships between the two industries is far more likely. Startups will benefit from access to new markets and infrastructure, while banks will stay on the cutting edge of innovation.

U.S. bankruptcy filings totaled 422,782 during the first six months of the year, a 12% drop from the 479,573 filings reported during the same period last year, according to the American Bankruptcy Institute, using data from by Epiq Systems Inc.

An exclusive Reuters report reveals JPMorgan Chase & Co. will pay at least $125 million to settle investigations by federal and state authorities that the bank sought to improperly collect and sell consumer credit card debt.

Barclays Plc Chairman John McFarlane, barely two months into the job, ousted Chief Executive Officer Antony Jenkins and pledged to tackle a "cumbersome and bureaucratic" bank. The shares rose.

WASHINGTON — A landmark agreement signed by one of the country's largest credit bureaus and hailed by federal and state officials as a "tough fix-it order" was supposed to usher in a new era where such firms would clean up inaccuracies and better respond to consumer complaints.

The Consumer Financial Protection Bureau released a report detailing shortcomings found in how student loan servicers treat military borrowers.

Jane G. Watkins, president and chief executive officer of Virginia Credit Union, a $2.7-billion institution based in North Chesterfield, Va., said she plans to retire on March 31, 2016, after serving 33 years in various capacities.

The $1.2 billion-asset National Commerce said in a press release Tuesday that it will pay about $37 million in cash and stock for the $300 million-asset Reunion Bank.

Toronto-Dominion Bank has named Michael Rhodes the new head of its U.S. consumer bank.

The Greek debt crisis and China's stock-market crash may put downward pressure on interest rates and delay the Fed's interest rate hike, and they are adding uncertainty at a time when lenders thought recovery would be taking hold.