Retail & Commercial

Astoria Financial (AF) in Lake Success, N.Y., posted a higher third-quarter profit as improved credit quality more than offset lower mortgage revenue.

Umpqua Holdings (UMPQ) in Portland, Ore., posted lower quarterly earnings after mortgage-related fees fell.

PNC, U.S. Bancorp and KeyCorp all reported loan growth of at least 5% in the third quarter as they focused heavily on strengthening customer relationships and reaped the benefits of expansion into new markets or business lines. Still, revenue and other challenges remain.

BOK Financial Corp. (BOKF) in Tulsa, Okla., is launching an online mortgage sales channel that will allow the company to reach prospective home buyers in all 50 states.

The Consumer Financial Protection Bureau is urging policymakers to revamp the disclosure requirements and modification programs of private student loan servicers, similar to changes already enacted in the mortgage industry.

Valley Financial (VYFC) in Roanoke, Va., has exited the Troubled Asset Relief Program after issuing $11 million in subordinated debt to an unnamed accredited investor.

American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts’ estimates as customer spending climbed.

Bank of America posted strong revenue growth in the same quarter its big rivals showed weakness on bread-and-butter banking. But concerns about its higher litigation expenses overshadowed the good news.

Lenders continued to face headwinds in the third quarter as consumer loan demand weakened slightly in some parts of the country while others saw a small boost, according to a Federal Reserve Board report released Wednesday.

Capital One and General Motors are extending their co-branded card partnership with the introduction of a new GM MasterCard from Capital One.