Retail & Commercial

Independence Bancshares (IEBS) in Greenville, S.C., will need to raise more capital to fund its development of new payments platforms.

The Consumer Financial Protection Bureau is concerned that some mortgage brokers may be shifting to the "mini-correspondent" lender model under the mistaken belief that identifying themselves as such will automatically exempt them from consumer protection rules affecting broker compensation.

A recent report from the Center for Responsible Lending finds that debt settlement companies frequently fail to settle the bulk of their clients’ debts, leaving them in even weaker financial positions.

Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., and its Berkshire Bank have changed charters.

Consumer spending slowed in June, but remained strong in several sectors, according to First Data Corp., a global payment technology and services firm.

The ATM maker and bank technology provider Diebold has named Sal Mahbouba as vice president of global services.

First Bancshares (FBMS) in Hattiesburg, Miss., has redeemed preferred stock BCB Holding in Mobile, Ala., issued to the Treasury Department under the Troubled Asset Relief Program.

Northwest Bank in Boise, Idaho, has agreed to buy Regal Financial Bank in Seattle.

Big banks stand to lose hordes of young and dissatisfied customers to digital banking startups and tech behemoths like Google, Apple and Amazon. Community banks, on the other hand, have a more loyal base.

Citigroup Inc., the third-biggest U.S. bank, said second-quarter profit tumbled 96 percent on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.