Retail & Commercial

Highlands Bancorp in Vernon, N.J., has lined up its next chief executive.

WASHINGTON — The Federal Home Loan banks of Seattle and Des Moines announced Thursday that their boards have unanimously approved a definitive agreement to merge.

Top demos from the second day of Finovate address security problems, the need to create a personal interaction even with mobile-only customers, and high brokerage fees.

Hospitals will save $5.7 billion in uncompensated care costs this year because of the Affordable Care Act, with those found in states that have expanded Medicaid projected to save the bulk of the total, according to a report from the Department of Health and Human Services.

Federal student loan defaults fell for the first time in several years but stayed far above levels reported before the recession, and there are questions about how the rates are calculated.

Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million.

Regulators fined U.S. Bank $57 million in penalties and restitution on Thursday to settle allegations that the $367 billion-asset bank unfairly marketed and charged add-on products to consumers.

Ripple Labs Inc., a venture capital-backed challenger to Western Union and Bitcoin, is for the first time gaining access to the U.S. banking system, and security hawks are raising eyebrows.

Jimmy John's, a sandwich-shop chain based in Champaign, Illinois, said a hacker infiltrated payment systems at about 216 of its locations and stole credit- and debit-card information.

Devising a risk mitigation plan — and the training and oversight necessary to implement it — requires lenders and servicers to conduct a scientific investigation into the policies, procedures and controls they already have in place.