Retail & Commercial

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.

The Fed determined that the purchase of Susquehanna Bancshares, which would push BB&T's assets above $200 billion, will not pose a threat to the U.S. financial system. The approval could give more regional banks confidence to pursue bigger acquisitions.

Student loan servicers continue to use "shoddy" practices in handling loans for military service members, the Consumer Financial Protection Bureau said Tuesday.

Americas United Bank in Glendale, Calif., has agreed to buy two branches from Banc of California in Irvine.

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

WASHINGTON — The Federal Reserve Bank of Boston reached a broad agreement with the U.S. affiliate of Spanish powerhouse Banco Santander calling for improvements in internal risk management, liquidity and capital adequacy controls.