Retail & Commercial

The news that the three largest credit bureaus will reform their practices has been hailed as an important step in improving credit-report accuracy. But while the procedures offer greater protection and more transparency, will they truly bring about a significant decline in serious reporting errors?

European banks plan to sell $109 billion of bad debt in 2015 to reduce costs and rebuild their balance sheets, according to a PricewaterhouseCoopers LLP report.

Poage Bankshares in Ashland, Ky., has named Daniel King 3rd as its chairman.

Ontario Systems has expanded its Compliance Consulting Services to offer an enhanced scoring model called OntarioComply that analyzes more than 225 compliance obligations.

A federal class-action lawsuit alleges credit bureau TransUnion illegally charges $10 before it places security freezes on the files of people who are dealing with identity theft.

AmeriServ Financial in Johnstown, Pa., has a new chief executive.

Ocwen Financial Corp. agreed to sell servicing rights on a $25 billion portfolio of home loans and said it's out of compliance with New York Stock Exchange listing standards.

Three major credit agencies are overhauling the way they resolve disputes and report unpaid medical debt. That’s a good start, but the best way to wipe out credit-reporting errors is to encourage Americans to review them regularly.

Carolina Alliance Bank in Spartanburg, S.C., has agreed to buy PBSC Financial in Greenville, S.C.

The city of Yonkers, N.Y., has amended its Consumer Protection Code to include revised requirements for debt collection agencies.