Retail & Commercial

The credit rating agency on Tuesday changed its outlook on the U.S. banking system to stable from negative, citing an improving economy and strengthening balance sheets at many institutions. Its rating on banks had been negative since 2008.

New York City's newest public-transit option, which allows commuters to rent bicycles to get to work, got its first real road test today. Citigroup is contributing $41 million to be the chief sponsor and namesake, and MasterCard Inc. is behind the program's $6.5 million payment system.

In an increasingly crowded mobile card reader market, American Express Co. and Groupon have given a double-digit million euro investment to SumUp.

Google is adding a Chrome Wallet App to allow payments within apps that run in Google's Chrome browser.

Either prepaid will move to mobile or prepaid will have to be repositioned toward a more value-added proposition.

It didn't take long for Live Oak to explode onto the SBA lending scene. Though it has just $330 million in assets, CEO Chip Mahan's latest banking venture trails only Wells Fargo and U.S. Bank on the government's list of the most active SBA lenders.

A federal jury convicted three former executives at the failed Bank of the Commonwealth in Norfolk, Va., of hiding the bank's bad assets for their own gain.

Fidelity National Financial (FNF) announced Tuesday that it acquired Lender Processing Services (LPS), confirming rumors that the two had been making plans to make a deal worth $2.9 billion.

Anchor BanCorp Wisconsin (ABCW) in Madison lost $17.5 million in the first quarter despite an improvement in credit quality.

The CFPB has made fair lending a top priority. To avoid problems, scrutinize the agency’s view of the laws, proactively analyze policies and document the reasons behind your loan decisions.