Retail & Commercial

Sen. David Vitter, R-La., a member of the Senate Banking Committee, announced Tuesday that he will run for governor of Louisiana in 2015.

The Federal Reserve Bank of Cleveland has reset its governance boards for the year, including naming Fifth Third Bancorp (FITB) Chief Executive Kevin Kabat as a director.

Charmian Uy, the U.S. Treasury's chief investment officer for the Trouble Asset Relief Program, details the government's strategy to exit a program that she believes "will be judged favorably over time."

Several more banks have disclosed financial hits because they hold securities that regulators declined to exempt from the Volcker Rule. Many of the bankers are upset because they are taking impairment charges on performing securities.

Third Point LLC, the hedge-fund firm led by billionaire Daniel Loeb, has become one of Ally Financial Inc.'s largest shareholders as the U.S. government reduces its stake in the company.

This is 2014, not 2008. The problem is not subprime mortgage lenders, but a pendulum of federal regulation that has swung to such an extreme that worthy, qualified borrowers are being turned away.

Synovus Financial (SNV) in Columbus, Ga., reported lower quarterly earnings because of a decline in mortgage banking revenue and a litigation-related charge.

A new report from Moody's suggests that roughly a dozen regional banks are at risk of sustaining meaningful credit losses on home equity lines of credit that were originated in the boom years and are scheduled to reset over the next three years.

None of us is above human error, but it's worth reminding financial institutions that these interactions can affect the psychological well-being of their clients.

The British Columbia Supreme Court in Canada has ruled that TransUnion can’t keep consumer credit data such as late payments on its records for more than six years.