Retail & Commercial

WEX Inc. has launched a new mobile application that searches for the most cost-effective gas station based on their location rather than just showing the price of gas.

The Interfaith Center on Corporate Responsibility says a report scheduled to be released by year's end will go a long way toward restoring the bank's credibility with shareholders following a string of legal skirmishes. The group is also pushing for changes at Bank of America and Wells Fargo.

MBNA Ltd. is working with MasterCard Inc. to test the MasterPass digital wallet in the U.K., with plans for a possible launch in early 2015.

Farmers Capital Bank in Frankfort, Ky., said a change in the rules governing allotments by active-duty service members will shave more than $800,000 off its bottom line next year.

A Florida-based mortgage modification business and its owner are banned from the industry as part of a settlement resolving Federal Trade Commission charges that he tricked financially strapped consumers into paying for mortgage-relief services that he never provided.

A federal monitor is investigating whether Ocwen Financial is treating borrowers fairly after a whistleblower said the company may have improperly influenced which mortgages were picked for a compliance review.

Northwest Bancshares in Warren, Pa., has agreed to buy LNB Bancorp in Lorain, Ohio.

Ed Clark took Toronto-Dominion Bank from nowhere in the U.S. to the nation's 15th-largest bank holding company in a single decade — but his even-keeled, conscientious leadership philosophy is perhaps his most valuable legacy.

The $16.3 billion-asset UMB will pay $182.5 million in stock for the Marquette, which is owned by the Pohlad family. The acquisition, which values Marquette at 160% of its tangible book value, is expected to close in mid-2015.

WASHINGTON — The Consumer Financial Protection Bureau has its sights set on prepaid and debit cards offered to college students as such products are filling the gaps left by credit card issuers which have largely left the space, according to a study released by the agency Monday.