Retail & Commercial

Spencer Savings Bank in Elmwood Park, N.J., has agreed to buy the banking operations of New Jersey Manufacturers Insurance.

Wholesale lenders are capping broker compensation at 2.75%, below the CFPB's 3%, adding another "overlay" above and beyond regulatory requirements. Some say borrowers are being shut out as a result.

State Bank Financial is in no rush to extract costs from Georgia-Carolina Bancshares, preferring instead to take its time in an effort to retain the best employees and clients.

People's United Bank in Bridgeport, Conn., expects to raise $400 million through an offering of subordinated debt.

Massena (N.Y.) Memorial Hospital board of managers approved a plan to write off more than $630,000 in bad debt for April and May.

Competition from traditional homes and distressed sales, the limited availability of conforming mortgages and an underdeveloped secondary market have prolonged a slump in manufactured housing that started in 1998.

While rent represents the biggest expense each month for many consumers, the payments rarely are reported to credit bureaus, meaning they don't help people improve their credit scores.

It’s true that AIG’s heavily regulated securities lending program played a role in the downfall of the insurer. But it is a dangerous fallacy to argue that this proves that regulation should be left entirely to the markets.

The American Bankers Association and AARP are planning to work together to protect older adults from financial exploitation.

Peapack-Gladstone Financial (PGC) in Bedminster, N.J., has named Kevin Runyon as executive vice president of information technology.