Retail & Commercial

Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency.

Bank of America, the second- biggest U.S. lender, swung to a surprise loss as the company booked $6 billion of costs tied to mortgage disputes.

U.S. Bancorp, the nation's biggest regional lender, posted a first-quarter profit that matched analysts' estimates as mortgage-banking revenue declined.

PNC Financial Services Group Inc., the second-biggest U.S. regional bank, said profit rose 6.5 percent, beating analysts' estimates, as expenses declined and the company set aside fewer provisions for soured loans.

Banks from New Jersey to California are going public with offerings ranging from $23 million to $223 million. The banks will use the proceeds to do everything from buy other institutions to retire debt. Following is a look.

National consumer credit default rates fell in March to the lowest post-recession rate, according to data released Tuesday.

Ginnie Mae has halted the transfer of mortgage servicing rights from Bank of America to a nonbank servicer because of missing documents. The agency is asking the top servicers for an inventory of loans with missing documents.

Unity Bancorp (UNTY) in Clinton, N.J., plans to raise up to $6 million through a rights offering.

The wealth management units of Wells Fargo and Bank of the West are looking to expand their asset-management businesses by entering the lucrative — and competitive — New York market. Both banks are opening new offices in Manhattan this year.

Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.