Retail & Commercial

Taylor Capital (TAYC) in Chicago has been notified by the Federal Reserve Board that its bank is facing an enforcement action for employing deceptive trade practices.

Midwestern community banks are in their best financial condition since early 2009, the Office of the Comptroller of the Currency said in a May 13 report.

Kennebec Savings Bank has a 19th century charter, but it is poised for a complex conversion to deal with modern challenges like activists investors, M&A pressures and even Basel III.

Zipremit is planning a service that will enable merchants to accept payments and extend credit to consumers who don't want to use a credit card account.

Homeowners who took advantage of the refinancing boom aren't buying new houses, because it would mean taking on higher-rate loans. That's a problem for banks already reporting huge declines in mortgage revenue.

Attendees at this year's D.A. Davidson Conference believe the approval process is calming down somewhat. Other bankers say they are looking to lower capital levels, with many showing an interest in deposit-rich franchises.

Bankers are optimistic that they will bounce back after a harsh winter in almost every part of the country raised their snow removal costs, slashed mortgage income and slowed overall customer activity.

Two of the largest companies in the student loan market will pay $97 million to settle federal charges that they unlawfully charged military personnel high interest rates and late fees on student loans.

Mortgage applications increased during the week ending May 9, driven by a jump in requests for refinancings, according to a report from the Mortgage Bankers Association.

Banc of California (BANC) in Irvine is looking to raise $100 million by selling common stock and tangible equity units.