Retail & Commercial

First Bank & Trust in Brookings, S.D., has agreed to buy a prepaid card portfolio from Inter National Bank in McAllen, Texas. First Bank did not disclose the price it will pay for the $21 million portfolio.

The Consumer Financial Protection Bureau released a guide Monday to how its examiners will review any private student lender to ensure compliance with applicable consumer financial laws.

First Data Corp. called 2012 the “year of universal commerce,” meaning commerce happens anywhere, anytime and on any type of device.

VeriFone Systems Inc., the largest maker of credit-card terminals, was sued by Creative Mobile Technologies LLC for more than $250 million over an agreement to place advertisements on screens in New York taxis.

Daniel Cantara 3rd, an 11-year veteran of First Niagara, will oversee all parts of the Buffalo, N.Y., bank that deal directly with customers.

Arvest Bank, the nation's third-largest privately held bank, agreed to buy 29 branches from Bank of America (BAC).

In the past, bank investment aimed at gaining a proprietary edge through new methods of consumer payment has consistently been poorly rewarded. Expect another repeat.

Community Trust Financial of Ruston, La., has received a $45 million investment from Pine Brook, a New York private-equity firm, the two firms announced Monday.

Industry marketing execs urge a focus on satisfying customers, communicating via social media and CEO support for a strong brand.

Bankia SA, the largest Spanish bank due to receive a European bailout, plans to seek buyers for its Florida unit early next year in a sale that may fetch at least $500 million, people with knowledge of the matter said.