Retail & Commercial

The Pittsburgh company's incoming chief executive, Bill Demchak, promised to follow the strategy laid out by current CEO Jim Rohr and avoid a race to the bottom for commercial loans.

Roughly 91% of the mortgages Bank of America funded in the first quarter were refinances — spelling peril if the refi boom peters out, as is expected.

Demand for credit by consumers and businesses continued to show signs of gradual improvement as homeowners looked to refinance their homes and buy new cars, according to a survey released by the Federal Reserve Board on Wednesday.

Community Trust Bancorp (CTBI) in Pikeville, Ky., reported flat earnings for the first quarter as higher costs offset an increase in fee income.

In a speech before the American Bankers Association, Sen. Jon Tester vowed he would hold Fannie Mae and Freddie Mac accountable and ensure a level playing field to the secondary market for community banks.

PHILADELPHIA – Philadelphia FCU announced the opening of a new branch in a former police station in the historic city neighborhood of Fishtown.

Fiserv today launched Popmoney Instant Payments, an update to its person-to-person payment service that allows recipients to see funds in their account within second of when the transaction is initiated.

The card networks are reporting strong progress among issuers and acquirers in the U.S. migration to EMV-chip cards, but many retailers are still lashing out against the expectation that they upgrade their point of sale hardware.

Berkshire Bancorp has found a "material weakness" in its internal controls tied to tax calculations and its loan-loss allowance. It has also brought on a new CEO.

PacWest Bancorp (PACW) in Los Angeles more than doubled its first-quarter profit as it reduced its loan-loss provision by $10 million.