Retail & Commercial

Bankwell Financial Group in New Canaan, Conn., didn't have to look far to find a permanent leader.

Amid heartbreaking tales told by distressed homeowners and reverse mortgage holders, many community groups praised OneWest CEO Joseph Otting for spending time speaking to them and hearing their communities' concerns.

Bank of America said former Chairman Charles O. Holliday is leaving the board of directors along with Clayton S. Rose.

The Federal Housing Administration's recent premium reduction is undercutting the private sector and expanding the government's role in the housing market, housing finance industry representatives told a House subcommittee on Thursday.

A court-imposed deadline for American Express to negotiate a fix to its merchant rules with the Department of Justice is about three weeks away. Odds of a deal are said to be low, heightening uncertainty — and fueling debate — about how the showdown will affect the future of the credit card business.

Plumas Bank in Quincy, Calif., is looking to convert its loan-production office in Reno, Nev., into a full-service branch.

Prosper Marketplace, an online lender for consumer loans, has found a new source of referrals: community banks.

The Bank of England will research whether issuing a digital currency such as Bitcoin would help it achieve its monetary policy, financial stability and regulatory goals.

The Northeast has always been a competitive market for deposit gathering. Loan growth and the potential for rising interests are forcing banks in the region to find new ways to bring in low-cost liquidity.

Federal and state regulators filed lawsuits against two debt collection rings for allegedly using threats and abusive language, including falsely stating that consumers would be arrested. The operations collected more than $45 million in supposed debts, according to the complaints.