Retail & Commercial

One week after American Express Co. announced that its fourth-quarter earnings fell sharply from a year earlier, the company filled in more details Thursday.

American Express, which announced 5,400 layoffs last week, said that earnings declined in the fourth quarter in all but one of its business segments.

A rise in fees and loans propelled People's United Financial in the fourth quarter. The $30.3 billion-asset company said Thursday that earnings rose 44% from a year earlier, to $61.2 million.

The Consumer Financial Protection Bureau's new mortgage servicing rules may force some servicers to exit the business altogether or simply outsource servicing of defaulted loans to third-parties, experts said Thursday.

Capital One blames lower revenue, higher costs and margin trends for earnings that fell short of analysts' expectations in the fourth quarter.

American Express Co., the lender that plans to cut 5,400 jobs this year, said profit at its U.S. card business declined 42 percent in the fourth quarter as the firm set aside more money to cover soured loans.

Tighter margins. Anxious commercial customers. Fresh memories of bad risks taken. These are a few of the limitations acting on Fifth Third, BB&T, PNC and other regional banks as they try to improve on progress made last year.

A group's plan to open a de novo bank in southeastern Pennsylvania could open the door for more bank charters.

Southcoast Financial Corp. (SOCB) in Mt. Pleasant, S.C., swung to a profit in the fourth quarter thanks to improvements to its loan portfolio and a lower cost of funds.

Piggyback litigation often follows regulatory actions, and the laws under the CFPB's jurisdiction all but invite follow-on private lawsuits. A huge number of companies may be exposed.