Retail & Commercial

A report on student loan debt suggests that borrowing by people in graduate and professional degree programs is rising and could total a larger-than-expected portion of the nation’s $1 trillion in total outstanding federal student loans.

A federal judge approved a class-action settlement against a law firm and collection agency for alleged Fair Debt Collection Practices Act violations.

Fifth Third Bancorp (FITB) said a drop in the value of a payments subsidiary, and higher legal costs, led to a 25% year-over-year drop in its quarterly profit.

Wal-Mart's new "Walmart-2-Walmart" transfer service will enable consumers to send money to each other by using the retail chain's store network.

PrivateBancorp (PVTB) in Chicago beat quarterly earnings estimates as its lending revenue and credit quality continued to improve.

The Cleveland company reported earnings of $236 million, up more than 18% from a year earlier. Earnings per share of 27 cents beat analysts' estimates polled by Bloomberg by three cents.

Webster Financial Corp. (WBS) in Waterbury, Conn., reported solid first-quarter results thanks to a surge in commercial lending.

BB&T (BBT) in Winston-Salem, N.C., narrowly missed Wall Street's first-quarter expectations because of sluggish loan growth.

William Young, the founding chief executive officer of Virginia Partners Bank in Fredericksburg, Va., will retire on June 30.

Wal-Mart Stores Inc., the world's largest retailer, plans to start a money transfer business as it works to provide customers with more financial services.