Retail & Commercial

New York Attorney General Eric T. Schneiderman's office announced agreements Tuesday with 10 businesses that will limit their marketing of title loans, a type of payday loan, to residents of the state.

The Los Angeles companies said Tuesday that the Federal Reserve Board has approved the $2.3 billion deal.

A Pennsylvania man has been sentenced to nearly six years in prison and must pay $9.2 million for his role in mortgage and bank fraud schemes.

Wells Fargo is in succession-planning mode. CEO John Stumpf is moving CFO Tim Sloan, widely considered to be one of his potential heirs, over to run the wholesale banking business, and promoting securities head John Shrewsberry to replace Sloan.

Charles M. Williams, co-chief executive of CertusBank, has quit the Greenville, S.C., company amid allegations of gross mismanagement.

Hancock Holding (HBHC) in Gulfport, Miss., has agreed to sell its property and casualty and group benefits lines of business to AssuredPartners in Lake Mary, Fla.

First Federal and Bay View are combining similar sized institutions that have complementary infrastructure, earnings and products. Though small, the deal could serve as a model for mutuals interested in keeping their charter and culture.

Ten auto repossession companies will stop claiming vehicles on behalf of title-loan companies under agreements with New York Attorney General Eric Schneiderman.

Rep. Maxine Waters' plan to overhaul the mortgage finance market may be dead-on-arrival in the House, but it is still likely to help determine the fate of a separate Senate bill seen as the leading congressional attempt to enact reform.

Eliminating payday lenders would create a void that banks, thrifts, and credit unions cannot or are reluctant to fill. With greater transparency, payday lenders can become a viable partner in the small-cash market.