Retail & Commercial

The insurer Genworth Financial has completed the $412.5 million sale of its wealth management operations.

Banks can still use properly tailored arbitration provisions to cut off class actions. Provisions should be explicit; silence is not a bank's friend when it comes to arbitration agreements.

Independent Bank in Ionia, Mich., has exited the Troubled Asset Relief Program.

A judge has approved Anchor Bancorp Wisconsin's plan to file for bankruptcy.

ALEXANDRIA, Va. – Pentagon FCU announced this morning it has signed a deal to link to 167 ATMs located in Rite Aid stores in Maryland, Virginia and greater Washington D.C., part of a broader ATM co-branding strategy.

When it agreed to be sold to Stifel last year, KBW was painted as a victim of weak bank M&A and the transformation of investment banking. Things are looking up now as the combined company ranked as the top advisor in four of six U.S. regions at midyear.

Royal Bank of Canada said Chairman David O'Brien plans to step down at yearend, and that director Kathleen Taylor will succeed him. The Toronto bank also said that Mark Hughes will succeed Chief Risk Officer Morten Friis when Friis retires on Jan. 10.

Student and auto lending surged in the 12-month period ended in July, according to an Equifax report released Thursday.

Everett Stern, who worked at HSBC Bank USA for two years, has given federal authorities emails and other documents that, he says, show HSBC committed anti-laundering violations beyond those covered by its $1.9 billion settlement. He has urged them to open a new investigation.

Total domestic deposit balances at institutions insured by the Federal Deposit Insurance Corp. fell by $31 billion, or 0.3%, in the second quarter, according to analysis from Market Rates Insight.