Retail & Commercial

Total System Services Inc. will continue to process payments for U.K.-based Nationwide Building Society, considered the largest building society in the world based on its assets and 15 million members.

The U.K. Help to Buy guarantee program provides a good example of how a private-public risk-sharing arrangement could be structured among mortgage insurers, lenders and the government.

Financial-technology and payments company FIS has named its president and chief operating officer, Gary Norcross, to its board of directors.

Sallie Mae (SLM) is seeking to separate its education loan management and consumer banking businesses into two publicly traded entities.

Clip, which sells mobile payments technology in Spanish-speaking markets, has developed a mobile card reader.

Bank of Montreal, Canada's fourth- biggest lender, posted second-quarter profit that missed analysts' expectations after taking charges tied to cost-cutting and its takeover of Wisconsin lender Marshall & Ilsley Corp.

The banking industry earned a record $40.3 billion in the first quarter as rising noninterest income and the continued drop in loss provisions made up for declines in interest-related income, the Federal Deposit Insurance Corp. said Wednesday.

Wal-Mart Stores Inc. and Amazon.com Inc. joined more than 30 of the biggest U.S. retailers in objecting to a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees, saying the deal is meaningless when card companies can continue to fix the charges.

Skowhegan Savings has agreed to buy five branches from fellow Maine lender Camden National Corporation.

JPMorgan Chase named former U.S. Treasury Department official Darius Kingsley as co-general counsel of mortgage banking.