Retail & Commercial

The Illinois Department of Financial and Professional Regulation closed the $54.7 million-asset Highland Community Bank in Chicago on Friday.

IMGCAP(1)]

Early signs point to a wave of Federal Housing Administration borrowers trying to tap into lower prices for mortgage backing.

American Express, Discover and Capital One all reported significant increases in their marketing spending last quarter, part of a larger upward trend in expenses.

The Justice Department has subpoenaed another subprime auto lender as it extends its investigation into the industry.

Seaway Bank and Trust in Chicago has entered into a consent order with state and federal regulators.

Bank of New York Mellon, the custody bank under pressure from activist investor Trian Fund Management to lift its share price, declined the most in nine months after reporting fourth-quarter earnings that missed analysts' estimates.

State Street said fourth-quarter profit fell 3.7% as expenses rose faster than revenue.

Forget the machines. Even forget the software. Diebold's business plan for the future — as touted in a video the company screened at 50 movie houses around the world — centers on its collaboration with banks and others on innovation.

The new year represents a chance for credit unions to take a close look at their branch networks and identify areas to cut costs as well as look for opportunities for growth.