Retail & Commercial

City officials hope to soon devise a plan that will help recover the money, including presumably out-of-statute debts.

Old Second Bancorp in Aurora, Ill., said Wednesday that its chief executive officer, William Skoglund, will retire at the end of this year. He will be succeeded by James Eccher, the company's chief operating officer.

DirectCash Payments has agreed to acquire Exeatm's ATM business in Australia for about $15.7 million.

The multifamily housing sector is likely to remain healthy thanks to favorable demographics — but the apartment market is almost certainly past peak for this cycle.

Hudson City Bancorp continues to reorganize its management team and board following the death of chairman and chief executive officer Ronald Hermance on Sept. 11.

Consumer default rates rose slightly in August, reversing a downward trend, according to the latest S&P/Experian Consumer Credit Default Indices.

Costco Wholesale Corp., the largest U.S. warehouse-club chain, will stop accepting all American Express Co. cards in Canada on Jan. 1.

Sen. Elizabeth Warren (D-Mass.) promised Wednesday to keep pushing for student loan legislation after a bill allowing borrowers to refinance their debts failed to come up for a vote this week.

Regulators have terminated an agreement with Preferred Bank in Los Angeles that required improvements to its data-security system.

The Consumer Financial Protection Bureau has taken a sweeping approach in using its authority to propose supervision of the largest nonbank auto lenders, unveiling a plan that would effectively cover 90% of the market.