Retail & Commercial

The Connecticut company was an early adopter of branch modernization, starting an effort four years ago that has led to the closure of underperforming locations, enhanced digital offerings and use of universal bankers.

The Federal Housing Finance Agency banned banks and mortgage servicers from accepting commissions on force-placed insurance policies issued by affiliated companies. At least one mortgage servicer, Ocwen Financial, has found a way around the ban.

First Interstate BancSystem, in Billings, Mont., will appeal a Montana state court jury's verdict that the company pay about $17 million in compensatory and punitive damages from a dispute with a former customer.

PricewaterhouseCoopers LLP was fined $25 million after sanitizing a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd., New York’s top bank regulator said Monday.

Americans are spending more in 2014 compared to a year ago, apparently driven by Baby Boomers - although that generation is not necessarily spending for the things they want, according to a recent Gallup poll.

Jesse Powell knew Mt. Gox was not long for this world more than two years before the once-dominant bitcoin exchange went bankrupt in February. Powell founded a competitor, Kraken, which is now in talks to offer services in Japan

Four Oaks Fincorp in Four Oaks, N.C., has raised $24 million through a rights offering.

After commercial mortgage-backed security delinquencies declined for 15 straight months, this streak came to an end in July.

Stephen E. Dowd, the chief financial officer of CMS Bancorp in White Plains, N.Y., has died. The $273 million-asset company announced Dowd’s “unexpected passing” in a press release on Friday.

An investor has filed a lawsuit to block the merger deal between the two First Citizens banks in the Carolinas, which are controlled by the Holding family. The case could turn on whether the directors on the special committees that reviewed the deal were truly independent of the Holdings.