Retail & Commercial

Citigroup boosted profit more than analysts estimated after a cost-cutting push helped it weather a slump in trading.

Umpqua Holdings in Portland, Ore., posted lower profit from a quarter earlier, largely reflecting a decline in net interest income.

The House approved eight regulatory relief bills Tuesday evening, including two controversial measures opposed by a number of Democratic lawmakers and the White House.

First-quarter results from U.S. Bancorp and PNC Financial Services Group shows banks have little choice but to wait until the Fed raises interest rates. They have cut expenses almost as far as they can go, and fee income is limited in how much it can offset narrower spread income.

Security California Bancorp in Riverside, Calif., has agreed to buy a branch from Rabobank.

IF Bancorp in Watseka, Ill., has selected the successor for its retiring president and chief executive.

WASHINGTON — The Consumer Financial Protection Bureau issued a final interpretive rule Wednesday that clarifies its housing counseling requirements with respect to high-cost loans.

Bank of America reported its best quarterly profit in more than a year, but with revenue declining and expense-reduction slowing, it is unclear where the company can turn to boost earnings. Similar questions are plaguing many banks as the latest earnings season unfolds.

LendKey, a white-label marketplace lender that partners with credit unions and community banks, has reached a deal to sell MidCap Financial up to $1 billion in student-consolidation loans.

Mike Cagney of Social Finance, honored Wednesday at LendIt's innovator of the year, chalks up his success to his company's "relationship-driven" model.