Retail & Commercial

Capital One agreed to pay $3.5 million to resolve U.S. regulatory claims the bank set aside inadequate reserves for auto loan losses in 2007.

COLONIE, N.Y. – CAP COM FCU on Tuesday night received final approval to build a new three-story, 118,400-square-foot office here.

Avant-Garde Marketing Solutions (AGMS), a merchant service provider, will sell and deploy a number of Ingenico’s new countertop terminals, including those that handle EMV-chip card payments.

A consumer watchdog group in Canada is speaking out in support of the major card brands in response to an argument brought by the country's Competition Bureau on behalf of retailers.

Sens. David Vitter and Sherrod Brown are courting a key constituency — small banks — that they hope can help build support for their legislation to tackle "too big to fail."

Oriental Financial Group (OFG) in San Juan, Puerto Rico, is being rebranded as OFG Bancorp.

Promontory Financial Group has hired Linda Gallagher, the head of KPMG's financial services regulatory department, as head of its consumer protection practice.

Wells Fargo is the latest big bank to try to get more revenue from its wealthiest clients by offering them fee-intensive investment-management products. But Wells and its wealth-management competitors, including JPMorgan Chase and PNC, also have to overcome their reputations and customers' reluctance to trust big banks.

The central bank is facing criticism from consumer advocates over its failure to sign onto a plan by other banking agencies that would put tight restrictions on the loans.

Shareholders resoundingly approved Citigroup's executive compensation package and other proposals at the bank's annual meeting on Wednesday, but CEO Michael Corbat sees more challenges ahead.