Retail & Commercial

A federal court has imposed a $26.9 million judgment against the operator of a work-at-home scheme who lied about his financial assets in an effort to hide them from the Federal Trade Commission when he agreed to a settlement with the agency in 2010.

MasterCard's digital wallet is currently live in 10 markets and the company has plans to add four more countries this year in a push to strengthen the card network's capabilities in an increasingly digital world.

First Bancorp in Southern Pines, N.C., posted a 20% jump in its second-quarter earnings as its provision for loan losses declined and fee income increased.

Home price gains have caused borrowers to turn to second liens to access cash for home improvement or other needs as higher interest rates damp first lien originations.

Banks can boost mortgage profits with the help of direct call centers and products like adjustable-rate mortgages and jumbo loans, writes Stratmor Group's Garth Graham.

Brookline Bancorp in Boston reported higher quarterly earnings because of loan growth.

Banc of California in Irvine reported a jump in second-quarter profits, fueled by strong growth in its loan portfolio.

The mortgage interest tax deduction is supposed to encourage homeownership among low- and middle-income Americans. But it primarily benefits higher-income taxpayers, according to a new study from the Mercatus Center at George Mason University.

American Express Co. Chief Executive Officer Kenneth I. Chenault defended company rules that bar merchants from asking customers to use cards with lower processing costs as a needed measure to protect its brand.

TFS Financial in Cleveland reported that its quarterly profits increased as net interest income rose and its loan-loss provision shrank.