Retail & Commercial

Hudson City Bancorp in Paramus, N.J., reported lower quarterly profit as its balance sheet continues to shrink.

JPMorgan Chase Chief Executive Officer Jamie Dimon said cancer hasn't altered his plans to keep working even as he looks toward a retirement that he hopes will include philanthropy and teaching.

While Fannie Mae and Freddie Mac wait for Congress to decide when and how to act on housing industry legislation, the government-sponsored enterprises are working with their regulator on "nonlegislative GSE reform" that will better prepare them to implement new laws.

Some banks try to justify tight underwriting standards by arguing that borrowers with lower credit scores and those who can only afford lower down payments are more likely to default. But the research supporting this argument is based on outdated analysis of high-cost, risky loans.

Overall consumer credit default rates showed an uptick in September

Pacific Premier Bancorp in Irvine, Calif., has agreed to buy Independence Bank in Newport Beach, Calif.

U.S. Bancorp reported a steady quarterly profit that matched analysts' estimates as the company made more loans to businesses.

First Horizon National in Memphis, Tenn., has agreed to buy TrustAtlantic Financial in Raleigh, N.C.

Cece Stewart, a 35-year banking veteran who retired from Citigroup in April, has joined the board of First Horizon National Corp. in Memphis, Tenn.

Subprime auto lender Exeter Finance will have a new chief executive in two weeks.