Retail & Commercial

Wells Fargo was the largest seller of loans in pools where Fannie Mae and Freddie Mac offloaded risk through credit-linked transactions, Fitch says in a report released Wednesday.

New York regulators on Wednesday announced settlements with four companies accused of financing retail installment obligations at usurious rates of interest, ranging up to 55%, for New York consumers who sought financing for elective medical and surgical procedures.

Fannie Mae and Freddie Mac could require an additional bailout of as much as $190 billion in a severe economic downturn, according to the results of stress tests released by the Federal Housing Finance Agency.

Authorities in Vermont recently unveiled a novel approach to the crackdown on online payday lending: they sent a warning to search-engine providers and TV stations that the lenders use to advertise their products.

A federal judge in Alabama will hear arguments Thursday over a debt collection lawsuit that accuses the city of Montgomery, Ala. of jailing some residents for not paying their debts.

New York Community Bancorp (NYCB) in Westbury reported lower quarterly earnings as mortgage-related income plummeted.

Banks looking to build productive, lean-staffed branches should ensure that their work culture rewards positive employee attitudes.

First Financial Bancorp (FFBC) in Cincinnati has agreed to buy Guernsey Bancorp in Worthington, Ohio.

First Horizon National Corp. announced late Tuesday that it will pay $110 million to the Federal Housing Finance Agency to settle allegations that it sold faulty mortgages to Fannie Mae and Freddie Mac in the years leading up to housing bust.

The company had been looking for a deal for a few years and finally found one in OmniAmerican, a former credit union that converted to a stock-owned company in 2010.