Retail & Commercial

A consumer debt collection agency was shut down by New York Attorney General Eric Schneiderman on Thursday morning after dozens of complaints were filed about the company's business tactics.

JPMorgan Chase (JPM) has pledged to invest $20 million over the next five years to support U.S. military veterans and their communities.

The Colorado state legislature could decide soon if a new type of financial services co-operative — though not a credit union — will be created to serve the marijuana industry in the state.

Bitcoin ATM provider Robocoin is touting its ATMs as bank branches after launching an online banking platform, Robocoin Bank.

Wells Fargo is expanding its commercial card portfolio to Europe with the launch of a European Commercial Card.

Texas, a big market for reverse mortgages, has approved a variation of the product that taps the equity in a senior's home to pay for a new, often smaller, dwelling.

Floridian Financial Group in Lake Mary, Fla., is merging its subsidiaries, Orange Bank of Florida in Orlando and Floridian Bank in Daytona Beach, under the Floridian Bank name.

S&T Bancorp (STBA) in Indiana, Pa., saw its first-quarter profits rise 14% from the same period last year, to $14 million, due to organic loan growth, and improved expense control and asset quality.

CertusBank in Greenville, S.C., continues to lose money, largely because of high expenses. The $1.6 billion-asset company lost $9 million in the first quarter, according to a call report filed with the Federal Deposit Insurance Corp.

Confusion over regulatory jurisdiction and burdensome compliance costs are cutting into community banks' profits and forcing them to consolidate. But it doesn't have to be this way.