Retail & Commercial

Wells Fargo (WFC), U.S. Bancorp (USB), Fifth Third Bancorp (FITB) and Guaranty Bank of Wisconsin all pulled the plug Friday on a controversial lending product that competes with payday loans.

A recap of the informed opinions (and the discussions they generated) this week on BankThink.

As with any new technology, mobile wallets must earn the trust of the consumers and merchants who would use them. Many mobile payment apps may attempt to beef up security with password and PIN protection, but a few have had their security scrutinized very publicly.

Executives at a number of midsize institutions were excited about the prospects of booking more commercial loans in 2014.

The head of NorthStar Bank in Tampa, Fla., has stepped down.

Westbury Bancorp (WBB) in West Bend, Wis., has appointed Greg Remus chief operating officer.

Citigroup is cutting 950 jobs in default mortgage servicing after selling some business to Fannie Mae.

EBay Inc. has written a new policy on virtual currency sales, set to go into effect for U.K. customers in early February.

Fee revenue and improved asset quality helped BancFirst (BANF) in Oklahoma City beat fourth-quarter earnings forecasts.

Farmers & Merchants Bank of Long Beach (FMBL) in California posted higher quarterly profits as lending grew.