Retail & Commercial

The Federal Deposit Insurance Corp. is facing accusations that it is forcing banks to cut ties with online payday lenders, but the agency says it is only urging banks to be on guard about merchant relationships that elevate their risk.

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

Big bank executives in New York need to visit the heartland and get in touch with Main Street to cure lingering public resentment, St. Louis Fed President James Bullard said.

Wingspan Portfolio Advisors, a mortgage service provider, has agreed to take over the lease on a customer service operation in Monroe, La., from JPMorgan Chase (JPM) with the help of state subsidies.

Washington Trust Bancorp (WASH) in Westerly, R.I., has hired a veteran banker as its president and chief operating officer.

Cordia Bancorp (BVA) in Midlothian, Va., has hired Mark Severson as chief financial officer.

Wesley A. Brown, a Denver investment banker and member of the Alpine Rescue Team, is trained to save your bank — or you, if you get stuck in the mountains of Colorado. Recent floods there put his skills, and those of his teammates, to the test.

A Small Business Administration program intended to give veteran-owned companies easier access to loans has come under fire for high default rates that have cost taxpayers over $31 million.

The Federal Reserve's rules for debit-card transaction fees and processing will remain in place while the central bank appeals a decision throwing out the regulations, a judge said.

Penns Woods Bancorp (PWOD) in Williamsport, Pa., has picked Robert Glunk to be the next president of Luzerne Bank, a subsidiary it acquired this year.