Retail & Commercial

Sen. David Vitter is vowing to push for "tough" reforms to the Federal Housing Administration when the Senate Banking Committee takes up a bill to implement key changes at the agency on Wednesday.

The Florida bank says that after a string of troubled-bank acquisitions that brought it lots of short-term benefits, it is turning to deals like its agreement for Gulfstream that will juice earnings over the long haul.

Green Dot (GDOT) reported a 4% jump in second-quarter profits even as its flagship prepaid card franchise continued to face pressure from new competitors.

BB&T is raising its profile in the Atlanta area by attaching its brand to automated teller machines in Rite Aid stores across the metropolitan area.

A relief package proposed by three senators last week has reinforced hope that Capitol Hill will ease community banks' regulatory burden by yearend.

The City of Richmond has sent offer letters to roughly 32 mortgage servicers and trustees requesting that it be allowed to buy underwater home loans at reduced prices. If the servicers balk, city officials say they will seek to seize the properties through eminent domain.

CIT Group in New York has named Randy Chesler as the president of its CIT Bank, based in Salt Lake City.

While many people think of Bitcoin as a currency, Jaron Lukasiewicz, CEO and co-founder of Coinsetter, says Bitcoin should be thought of more as a payments infrastructure, allowing quick, inexpensive funds transfer. But for Bitcoin to thrive, banks must agree with this perspective.

EverBank Financial (EVER) in Jacksonville, Fla., reported higher second-quarter earnings and said it would shut its wholesale-mortgage business.

A federal judge has found in favor of the Federal Trade Commission in its case against an online operation that illegally debited consumers’ bank accounts when they visited the defendants’ Web sites seeking payday loans.