Retail & Commercial

The agreement's architects contend that the pact could bring as much as $291 million to affected homeowners, but detractors say that the final tally is likely to be far lower.

BB&T (BBT) in Winston-Salem, N.C., has been closing branches across its network, but is planning to expand its presence in Texas by nearly 50%.

The $5.8 billion-asset Chemical has begun a public offering of its common stock that seeks to raise $50 million, it announced Wednesday after the market closed. All of the shares are being offered by the company.

Financial institutions are required to thoroughly "know" their customers and vet transactions for potential criminal connections in a way that other critical service industries are not. (Imagine an electric company quizzing its customers about what appliances they plug into the wall.) Ellen Zimiles, a former assistant U.S. attorney who now heads the global investigations and compliance practice at Navigant Consulting, explains why banks have been given special responsibilities.

The Office of the Comptroller of the Currency is urging banks to strengthen their oversight of the home appraisal process and warning them to keep an eye out for a sudden spike in delinquencies on home-equity loans.

Consumer Financial Protection Bureau Director Richard Cordray sought to allay lender fears Wednesday about the agency's new mortgage rules, pledging to be flexible with companies struggling to comply by the January deadline.

Banks need to revamp customer service operations so unhappy consumers complain to them rather than to the Consumer Financial Protection Bureau, where a complaint could spark added regulatory scrutiny.

The Federal Deposit Insurance Corp. is selling the last of the Citigroup (NYSE:C) stake that the U.S. government acquired during the financial crisis.

UMB Financial (UMBF) seeks to raise up to $242.2 million next week from a common stock offering that priced Tuesday.

The city of Richmond, Calif., is pushing forward with its plan to rescue underwater homeowners by buying their mortgages, and is leaving open the possibility of using eminent-domain to acquire loans that banks will not sell.