Retail & Commercial

Westside Community Bank in University Place, Wash., became the first failed institution of 2013 late Friday.

Retailers are looking to payments technologies to empower them to provide a more personalized shopping experience, one that improves consumer engagement at the point of sale and helps build customer loyalty, according to experts who spoke Sunday at the National Retail Federation’s annual convention in New York.

JPMorgan Chase's (JPM) board is expected to dock the bonuses of chief executive Dimon and former chief financial officer Douglas Braunstein, as a consequence of the company's $6 billion trading loss at its chief investment office last spring, the Wall Street Journal reported on Saturday.

The chief executive officer of First Data Corp. (FDC) is resigning, the company said Friday.

Banks with at least $10 billion of assets approved 14.9% of loans between $250,000 and $3 million in December, up nearly two percentage points from a month earlier and the highest rate in roughly a year, according to an index published Wednesday by Biz2Credit, which connects small and mid-size business borrowers with lenders.

Flagstar in Troy, Mich., provided misleading information about the condition of loans that backed securities insured by MBIA and led to big losses, MBIA's lawsuit says.

Wells Fargo reported record earnings again in the fourth quarter but it faces headwinds that could slow the momentum in 2013.

Subprime mortgages are likely to become harder to make and more expensive to sell in the secondary market based on the new qualified mortgage rule.

The Independent Community Bankers of America (ICBA) is toasting the Government Accountability Office (GAO) for agreeing to examine the economic benefit that megabanks derive from their too-big-to-fail status.

There's no turning back — prepaid cards have left a permanent mark on banks, card networks, alternative payment providers and more. Some might consider that mark to be a scarlet letter, but many now wear it as a badge of honor.