Retail & Commercial

Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them.

The president's job at Northwest Indiana Bancorp of Munster, Ind., has been passed on to a fourth generation of Bochnowski. The company said Benjamin Bochnowski, who remains the company's chief operating officer, will have the same posts at its bank.

Wintrust Financial in Rosemont, Ill., reported higher quarterly earnings on increased revenue, with fourth-quarter profit rose 8% from a year earlier, to $38.13 million.

The Obama Administration's issued looser rules Thursday for transactions in the small island nation, but banks still face impediments.

First Republic Bank in San Francisco reported flat fourth-quarter profits as strong deposit growth and gains in both interest and fee income were largely offset by higher expenses.

Google, an early investor in LendingClub, is using the online platform to help it sell more services to businesses.

Under pressure from Congress and credit unions, the NCUA significantly dialed back its proposal to institute risk-based capital requirements, raising the threshold of which institutions must comply and softening other provisions.

Bank of America's expenses still far exceed those of JPMorgan Chase and Wells Fargo, so analysts were clearly disappointed Thursday when CEO Brian Moynihan failed to outline any specific plans for further lowering overhead.

Facing the prospect of losing its license in California, Ocwen would be wise to settle its probe by state regulators in a timely manner, observers said. If it doesn't, the mortgage servicer could lose significant revenue and might even face a cash crunch.

Regions Financial is testing gamification as a way to teach financial literacy to young people with a mobile app that simulates a sport more commonly associated with older generations.