Retail & Commercial

The compliance costs associated with the CFPB's proposed reforms to the payday lending would force many small businesses to close shop, reducing access to short-term credit for many Americans.

Community banks should consider agreeing to higher capital standards in return for a simpler capital compliance regime, Federal Reserve Board Gov. Daniel Tarullo suggested Thursday.

Wells Fargo has launched a tool that helps small business owners create and update business plans.

Financial industry groups are supporting the effort to stop the Pentagon from issuing new regulations on high-cost lending this year, while congressional Democrats and consumer groups are decrying it.

Royal Bancshares in Narberth, Pa., could have taken large writedowns and burned through capital to erase millions of dollars in bad assets. But management decided to hold onto those assets as it slowly ran off loans in a pair of shuttered business lines.

New York Gov. Andrew Cuomo and New York Superintendent of Financial Services Benjamin Lawsky today proposed new regulations for the title insurance industry, including restrictions on meal and entertainment expenses.

Comerica in Dallas has promoted Curtis Farmer to president.

Coinbase, a U.S.-based Bitcoin exchange with many prominent merchant clients, has spread its services into the U.K. where bankers and regulators have been more welcoming of digital currency innovations.

The unit, which lends to private equity-backed companies and includes GE Antares, has long been a major force in the middle market.

New York Community Bancorp in Westbury reported higher quarterly profit, though it continued to sell loans to stay below $50 billion in assets.