Retail & Commercial

Wells Fargo and insurer QBE have agreed to pay $19.3 million to settle claims that they overcharged homeowners in Florida on lender-placed insurance policies.

The bill would replace the misleading risk-based capital system with a straightforward way to determine the true health of an institution, in addition to providing incentives for the largest banks to downsize.

Visa Europe Ltd. plans to "significantly" reduce the fees it sets for processing cross- border credit-card payments in a bid to allay European Union competition concerns, the bloc's antitrust watchdog said.

Opus Bank in Irvine, Calif., said Tuesday it has formed a unit within its commercial banking division that will lend money to physicians, dentists, veterinarians and ophthalmologists for practice deals, equipment financing and other capital needs.

Quarterly profit at Cascade Bancorp in Bend, Ore., rose 60% thanks to cost cuts and improvements in asset quality.

A court deadline this week and the failure of two of Capitol's banks last week have added to the Lansing, Mich., company's increasingly tense bankruptcy.

The Consumer Financial Protection Bureau's push to encourage private lenders to refinance student loan debt is raising questions about whether the agency is focusing on the right target.

Earlier today Groupon POS, a mobile payment app for merchants using iPads as point of sale systems, was released on iTunes, but the app has since been pulled from the app store.

Scott Simon, head of mortgage-backed securities operations at fixed income giant Pacific Investment Management Co., argues on the eve of his retirement that the government-sponsored housing enterprises should continue to play a major role in housing finance.

Nearly everybody knows that paying loans on time can help raise their credit score. But beyond that, a large percentage of Americans know little about their scores, a new survey found.