Retail & Commercial

A joint complaint filed Thursday by federal regulators, if approved by the court, would require Provident Funding Associates to pay $9 million in damages to African-American and Hispanic borrowers for charging higher broker fees on mortgage loans.

Mercantile Bank in Grand Rapids, Mich., has named a new chief executive for its bank unit as it overhauls its leadership in the wake of the retirement of its chairman.

Discover Financial Services has entered into a written agreement with the Federal Reserve to improve its anti-money laundering procedures.

Provident Funding Associates, a private mortgage lender, has agreed to pay $9 million to settle allegations its brokers charged minorities higher fees and interest rates, federal regulators said Thursday.

Pacific Premier Bancorp in Irvine, Calif., has named Allen Nicholson chief financial officer.

TCF Financial has designed a new logo and launched a new marketing campaign to improve its image, which has taken a hit lately according to recent customer-satisfaction surveys.

Banks with more than $1 billion of assets are now required to report overdraft income in their call reports. Data released Wednesday reveals which banks rely most heavily on revenue from overdrafts — and which could be most vulnerable to looming changes in overdraft regulations.

Recognizing that twice as many customers use online banking as mobile banking, the San Francisco bank has invested in a redesign of its website, an area many banks have neglected of late.

Burdensome requirements prevent consumer reporting agencies from providing people with educational materials in a timely manner. The Facilitating Access to Credit Act would remove these arbitrary barriers.

American State Bancshares in Wichita, Kan., has agreed to acquire three Kansas branches from Simmons First National.