Retail & Commercial

WASHINGTON — The Consumer Financial Protection Bureau slapped Franklin Loan Corporation with a $730,000 fine on Thursday for allegedly incentivizing loan officers to guide customers into mortgages with higher interest rates.

For the fifth year in a row, Quicken Loans is rated No. 1 by consumers in terms of customer satisfaction, according to a J.D. Power survey.

Trade groups press federal banking regulators to make the Basel III capital rule less onerous.

Wells Fargo plans to sell an $8.5 billion portfolio of federal student loans to Navient, the educational loan servicer that recently split off from Sallie Mae.

Transparency about the diversity of companies’ workforces can promote the hiring and advancement of women, while role models like Janet Yellen help pave the way for more female leaders.

First Artesia Bancshares in Artesia, N.M., has merged two of its banks.

Community banks, on average, increased the size of their loan portfolios by 15% in the third quarter from a year earlier, though the numbers reveal a slowdown from prior periods.

A suburban Chicago collection agency was the subject of a television news report after a former employee spoke out about alleged collection tactics the agency uses to target unsuspecting consumers.

J. Thomas Wiley will become chief executive of the company's banking unit. The move could free up Joe Evans, the company's CEO, to focus on deploying capital, which could include more acquisitions.

Markind Law Group, a Cherry Hill, N.J. debt collection law firm, has won a court ruling in a case brought by a consumer who argued an arbitration provision included in his sales contract for a Ford Fiesta couldn't be enforced by the firm.