Retail & Commercial

Lindorff Espana, part of Oslo, Norway-based collections and credit giant Lindorff, has purchased the debt recovery unit of Spain's Banco Sabadell for $218 million, the companies announced this week.

The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express.

BJ's Wholesale Club is planning to convert its co-branded credit card program to chip-enabled MasterCards.

South State reported higher second quarter earnings compared to last year, as the Columbia, S.C., company expanded through the combination of SCBT and First Financial Holdings.

CIT Group's deal for OneWest is further proof that buyers are increasingly eyeing deposits, not assets, as they prepare for an increase in loan demand and look to position themselves for rising interest rates.

Victor K. Nichols, a former executive at Experian, has joined the board of the Bank of Hawaii in Honolulu.

S&T Bancorp in Indiana, Pa., reported higher second-quarter earnings driven by loan growth and a credit for its loan-loss provision.

The lender reduced its reserves in the second quarter despite an acknowledgement that chargeoffs will likely rise in the coming months.

Though satisfying examiners remains a priority, their decisions about how and where to deploy resources are being mostly driven by the desire to meet customers' changing demands, according to a new survey from the advisory firm KPMG.

Diebold is unveiling an anti-skimming card reader designed to prevent criminals from stealing card data from unsuspecting automated teller machine users.