Retail & Commercial

The Small Business Administration is making more money available for programs that encourage investment in early-stage companies and low-income communities.

The $42 million pact is the first of its kind to resolve complaints that a mortgage servicer treated foreclosed homes differently based on the racial composition of the neighborhood.

Mobile payments worldwide will grow significantly in transaction volume and value in 2013, but Near Field Communication payments won't be part of that momentum in North America, according to new Gartner research.

First PacTrust Bancorp in Irvine, Calif., is planning to raise more than $40 million through a sale of preferred shares.

The industry is up in arms over a proposal that would require banks to disclose in call reports specific sources of fee revenue. In question is whether the mandate would improve oversight of safety and soundness or instead is aimed at furthering the policy agenda of the Consumer Financial Protection Bureau and consumer advocates.

The fast-growing First Virginia Community Bank in Fairfax said Thursday that it sold more than 1.6 million shares at $13.50 each. It plans to use the money to support growth, among other things.

Seacoast Banking of Florida has opened five offices in the last three months, called "fuel cells," to focus on small businesses. The aim is to foster more collaboration between commercial clients and Seacoast employees.

MasterCard has approved a pair of EMV-chip cards jointly developed by Inside Secure and CPI Card Group.

The foreclosure sale rate hit a three-year high in April, as the foreclosure process slowly returns to normal after years of delays and legal disputes.

Equity Bancshares in Wichita, Kan., has lost its president, Drayton Alldritt, to an unnamed competitor.