Retail & Commercial

Fulton Financial in Lancaster, Pa., reported lower first-quarter profit on a decline in net interest income and higher expenses.

Discover Financial Services reported a 7% drop in quarterly earnings on Tuesday, driven by rising expenses, a growing loss provision and shrinking yields in its flagship credit card business.

Customers are dodging deposit fees by hanging onto their extra cash and using apps to more frequently check their balances, denying banks crucial noninterest income.

Arrow Financial in Glens Falls, N.Y., reported a double-digit profit increase in the first quarter as strong loan growth in its three major business lines helped to offset flat noninterest income and higher expense.

Uber Technologies Inc. and Capital One Financial Corp. have joined to give the credit-card issuer's customers cheaper rides on the car-sharing service.

Rand Paul, the Kentucky senator and Republican presidential candidate, told supporters and Bitcoin enthusiasts that policymakers should foster the development of new payments technologies like they did with the Internet.

S&T Bancorp in Indiana, Pa., reported better-than-expected earnings in the first quarter as income from loans it inherited in its acquisition of Integrity Bancshares helped to offset higher merger-related expenses.

A national mortgage servicing company will pay $63 million to resolve FTC and CFPB charges that it harmed homeowners with illegal debt collection practices and loan servicing.

The Georgia company has been cutting costs, while reinvesting funds in new businesses and technology. While the moves are doing little to increase near-term return on assets, they could help Synovus improve its longer-term performance.

The National Pawnbrokers Association argues that its members have been unfairly swept up in the Justice Department initiative known as Operation Choke Point. But banks say Choke Point's not to blame: they're closing the accounts of cash-intensive businesses in order to ensure compliance with anti-money-laundering rules.