Retail & Commercial

The new regulations are meant to close loopholes in an interest rate cap that applies to active-duty soldiers and sailors. But financial institutions won at least one important concession.

The new MBS program gives FHLB members direct access to the secondary market.

Porter Bancorp in Louisville, Ky., has agreed to pay $1.1 million to settle a lawsuit alleging mismanagement of a former client's employee stock ownership plan.

Law enforcement authorities arrested four people in Israel and Florida and revealed a complex securities fraud scheme tied to the computer hacks of JPMorgan Chase & Co. and other financial institutions.

They're not ready to go all-in by putting core processing in the cloud, but community banks are experimenting with hybrid and quasi-cloud arrangements that offer low costs and rapid deployment.

Regions Financial in Birmingham, Ala., reported higher quarterly profit on stronger fee income.

WASHINGTON — Citigroup is facing $770 million in charges after two federal regulators said the megabank engaged in deceptive marketing and unfair billing practices related to its credit card add-on products.

Consumer credit default data through the end of June showed increases in first mortgage, second mortgage and composite default rates.

Fifth Third Bancorp in Cincinnati reported a decline in second-quarter profit, as the costs to close branches offset loan growth.

Citizens Financial Group in Providence, R.I., showed strong consumer loan growth in the second quarter but fell slightly short of analysts' quarterly estimates as its margins declined.