Retail & Commercial

Bankers give too much credence to futurists and financial gurus who warn that technology will render the in-branch experience obsolete.

Wells Fargo & Co. was sued by Los Angeles for allegedly opening accounts and issuing credit cards without customers' authorization as part of what the city called a "fee-generating machine."

Two House Financial Services Committee members introduced a bipartisan bill late last week that is designed to give lenders breathing room when new disclosure rules go into effect on Aug. 1.

Last month Western Union sharply cut its prices to keep pace with the retail giant, several months after MoneyGram took a similar step. The developments offer a reminder of why banks remain scared of Walmart's consumer finance ambitions.

Debt settlement company Morgan Drexen Inc. filed for Chapter 7 bankruptcy liquidation Friday, shortly before a U.S. appeals court threw out the company's earlier constitutional challenge to the Consumer Financial Protection Bureau.

Business groups in North Carolina are backing a bill pending in the state’s House that would lift restrictions the legislature passed in 2009 to protect people from abusive collections.

Thanks to aggressive behavior by investor and other activists, bankers are sweating environmental, corporate governance, lobbying and other issues — not to mention their jobs — when they hold annual meetings. Those are on top of the usual protests and other wacky happenings.

Bank of America will let shareholders vote on the rule change that enabled Chief Executive Officer Brian Moynihan to become chairman — just not at this week's annual meeting.

Joann Needleman, current president of the National Association of Retail Collection Attorneys, has joined national law firm Clark Hill PLC.

Financial services technology has dramatically improved payments for consumers. E-commerce connects buyers and sellers around the globe.