Retail & Commercial

Eric Schneiderman, New York's top law enforcer, filed a suit Monday against three online lenders and their owners, alleging that they violated usury laws by making loans that carry annual interest rates of between 89% and 335%.

Matt Hildreth has been named Dallas chairman and chief executive for the $13 billion-asset Amegy Bank in Houston, Amegy said Monday.

The Spokane, Wash., bank could not rename its two retail operations in California "Sterling" because of legal matters, so executives turned to their French-English dictionary for a unique substitute: "Argent."

Determined to stay independent, Allegiance Bancshares is looking for more deals like its recent one with Independence Bank so it can get big enough to go public. Other Texas banks could be attracted by the chance to join a soon-to-be public company.

Unable to secure additional funding, PerkStreet Financial announced Monday that it is closing its operations on Sept. 26. The Boston startup has been offering people checking accounts that reward customers for their debit card swipes.

The cost of doing business with the Federal Housing Administration could skyrocket if the agency adopts a new method for calculating lenders' liability for poorly underwritten loans that default.

Senate Majority Leader Harry Reid's surprise criticism of President Obama's plan to unwind Fannie Mae and Freddie Mac has upset the conventional wisdom surrounding housing finance reform.

The New York State Department of Financial Services issued subpoenas to 22 emerging payments players, including many that handle the digital currency Bitcoin, demonstrating that new payments models have not yet found their place in the eyes of the law.

Faced with a litany of legal and regulatory woes, JPMorgan Chase has vowed to minimize wrongdoing and tighten internal controls. But with financial incentives unchanged and regulators on the warpath, virtuous talk may not be enough to prevent more troubles.