Retail & Commercial

The Commodity Futures Trading Commission has sued U.S. Bank for its role in the Peregrine Financial collapse, alleging that it failed to properly handle the failed brokerage's customer accounts.

Investors, analysts and reporters have overestimated the Georgia bank's interest in doing M&A deals, chairman and CEO Kessel Stelling says.

The Consumer Financial Protection Bureau appears close to clamping down on fees on account overdrafts and payday loans. That's left some observers fearful low-income consumers will end up losing access to financial services many count on to make ends meet.

Debt buyer Encore Capital Group Inc. set June 13 as the closing date for the $200 million merger with Asset Acceptance Capital Corp.

While face-to-face interactions may be nowhere near the most common banking transaction these days, they continue to have an inordinate influence on how customers think and feel about a bank. We cannot afford to waste them.

Visa is working to approve more mobile point of sale hardware, including products from iZettle, SumUp and Swiff.

Insurers and brokerages have myriad reasons for setting up bank subsidiaries, including lower funding costs and a broader array of customer services. But increased regulatory scrutiny is prompting many to change their thinking. Here's a look at nonbanks that have or are looking to shed bank charters, citing the cost and time commitment related to complying with the Dodd-Frank Act and other obligations.

With the government cracking down on digital currency players such as Liberty Reserve and Mt. Gox, many ask whether it's a move to squash the development of virtual currencies and what action the government will take next.

First Commonwealth Bank in Indiana, Pa., has hired Jane Grebenc as its new president.

The $555 billion-asset Canadian company announced Tuesday that Costello plans to retire as its U.S. country head and as president and chief executive of its BMO Financial unit in Chicago.