Retail & Commercial

Francisco Gonzalez, who has been warning for almost a decade of the technological transformation set to engulf the financial industry, said at the Mobile World Congress in Barcelona March 4 that his bank would define itself as a software company.

A Washington state law that restricts payday loan marketing to poor families has caused the state’s payday lenders to lose three-quarters of their business in the five years since it was enacted, according to published reports.

The FTC and 10 state attorneys general have taken action against a Florida-based cruise line company and seven other companies that assisted a massive telemarketing campaign resulting in billions of robocalls.

KeyCorp has named Mark Danahy president of its mortgage operations. Danahy had been managing director of Citigroup's U.S. mortgage operation from July 2011 to May 2014 and, before that, was president and chief executive of PHH Mortgage.

Two years after Citigroup was punished for widespread foreclosure abuses, the bank is dealing with another misstep: Thousands of people who were entitled to settlement checks never got any money.

Farmers Capital Bank in Versailles, Ky., has been freed from a regulatory order.

Triumph Bancorp in Dallas has purchased several entities that the Federal Deposit Insurance Corp. retained after the failure of Doral Financial in Puerto Rico.

Citigroup Inc. reached a deal to issue most of its global consumer credit and debit cards on MasterCard Inc.'s network.

Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline.

The 10th Circuit Court of Appeals today revived the National Credit Union Administration's suit against Barclays Capital that claims the bank misrepresented more than $555 in mortgage-backed securities that led to the failure of two corporate credit unions.