Retail & Commercial

The various orders, fines and acknowledgements of guilt made by JPMorgan Chase on Thursday over the London Whale and other issues will have enormous implications for the rest of the industry. Here's why.

East West of Los Angeles hopes that buying MetroCorp in Houston will help its Chinese clients develop business ties in the Lone Star State.

Consumers in financial distress are increasingly placing more value on paying their mortgages than their credit cards, a reversal of the trend observed during the housing downturn, a TransUnion study found.

PennyMac Mortgage Investment Trust, run by former Countrywide executives, is planning its first sale of home-loan securities without government backing.

In a return to pre-recession norms, struggling consumers are now just as likely to pay their mortgages as they are monthly credit card bills, according to a TransUnion study released Thursday.

New York state regulators have proposed a sweeping set of rules to reform the force-placed insurance industry, in the latest sign that the government is taking steps to correct what critics call an abusive industry practice that overcharges homeowners.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Tracy Grooms, formerly of Bank of America, did not stay retired long. Queens University has hired her to teach undergraduates about banking at its business school, which is named after the most famous B of A exec of all.

James Watson, the bank's president, will become CEO on Oct. 1, the $1.1 billion-asset company said Thursday.

Sevier County Bank in Tennessee decided its loyal customers are its best promotion and created an interactive blog about their experiences with the bank, including the story of one woman who goes 20 miles out of her way to keep banking there.