Retail & Commercial

Big banks and institutional lenders approved small-business loans at record rates in May, according to data from Biz2Credit.

New Buffalo Savings Bank in Michigan has filed plans to convert from a mutual thrift to a stock-owned institution.

Bank of America will close drive-up teller windows at a dozen branches in Nashville and reduce in-store hours at an additional group of branches, The Tennessean reported.

Young Americans Bank, a niche institution in Denver focused on children, has a mission to create good future banking customers, but CEO Richard Martinez says kids today are cautious about credit after watching their parents struggle through the downturn.

With the onset of the new integrated disclosures rule, mortgage lenders owe it to their companies to make sure that operations folks have the chance to get out to events and workshops that will keep them informed and updated on new industry requirements.

City National in Los Angeles, which is being acquired by Royal Bank of Canada, has hired three wealth advisers for its New York office.

CommonBond, a marketplace lender specializing in private student loans, announced its first securitization Wednesday.

Community banks are facing tough choices when it comes to using outsourced labor or beefing up their own staff to handle risk-management tasks.

The Wisconsin Economic Development Corp., the state’s top jobs agency, has written off $7.6 million in taxpayer-funded loans in the four years since it was created.

A California mortgage bank, Guarantee Mortgage Corp., must pay a civil penalty of $228,000 for paying its branch managers based, in part, on the interest rates of the loans they closed.