Retail & Commercial

Because of a regulatory quirk, Lending Club and its competitors depend on banks to issue their loans. The set-up raises questions about the regulatory outlook for the fast-growing marketplace lending sector.

The former Astoria chief, who died Sunday, took Astoria from a sleepy mutual to the fifth-biggest publicly traded thrift in New York. Engelke was also know for freely speaking his mind while maintaining strong relationships with fellow bankers.

Engine, an industry group for startup businesses, sent an open letter to the Securities and Exchange Commission earlier this week requesting action on the crowdfunding provision within 2012's JOBS Act passed by Congress.

Citizens Security Bank in Bixby, Okla., will change its name in March to Mabrey Bank, taking on the last name of the family that owns and manages the bank.

WASHINGTON — The Federal Deposit Insurance Corp. is keeping up the drumbeat on the importance of managing interest rate risk.

The $1.3 billion-asset company said in a press release that Thomas Cherry will succeed Larry Dillon, who will remain chairman and chief executive. The company added that Cherry is expected to eventually succeed Dillon as CEO.

New York financial regulator Benjamin Lawsky revised his proposal for policing virtual-currency companies to eliminate some rules that Silicon Valley claimed would crush the fledgling industry.

Fifth Third Bancorp in Cincinnati has named an executive of the Cincinnati Bengals football team to its board.

An audit of Cheyney University in Pennsylvania found the school's financial status has deteriorated in the past five years, partly because of failed collection efforts. Bad debt increased 348% since 2010.

One of the defendants behind a massive landline cramming operation that placed more than $70 million in unauthorized charges on consumers’ phone bills has agreed to settle Federal Trade Commission charges against him.