Retail & Commercial

The Federal Trade Commission has sued a group of affiliated collection agencies and their owners for using the words "Federal," "American," "U.S.," or "State" in their names and for collection tactics such as threatening to arrest customers.

Federal regulators are shining an increasingly harsh light on the debt collections practices of banks and third-party agencies, forcing many to drastically alter the ways in which they interact with delinquent consumers. American Banker outlines the changes underway and how they may trickle down to collections efforts around the nation.

The GSEs reported big profits for 2013 but even the companies' executives question the sustainability of those earnings.

Bruce Berkowitz, the money manager battling the U.S. government over the future of Fannie Mae and Freddie Mac, is calling on the boards of the mortgage-finance giants to build capital instead of turning over their profits to the Treasury now that they've returned to profitability.

Citigroup Inc. (C), the third-biggest U.S. bank, said its Banamex USA unit received grand jury subpoenas related to compliance with the Bank Secrecy Act and federal anti-money-laundering requirements.

JPMorgan Chase (JPM) is getting serious about getting to know its customers.

S&T Bank (STBA) has opened a new branch in State College, Pa., and hired two local community bankers to expand its presence in the region.

Two of the three major nonbank mortgage servicers are sticking by plans to acquire more portfolios from banks this year, despite regulatory scrutiny and concern they are growing too fast.

Lowell Group, a purchaser of non-performing consumer debt portfolios in the United Kingdom, is working on a deal aimed at slashing its cost of borrowing.

PNC Financial Services received a subpoena regarding the return rate for its payment-processor clients from the U.S. Department of Justice.