Retail & Commercial

Tax incentives and penalties drive behavior regardless of whether or not they represent sound economic reality. And banks will be asked to provide lending and investment support accordingly.

The processor Total System Services Inc. announced multi-year agreements with two credit unions.

Visa announced Wednesday that John Partridge will retire as the company's president at the end of March.

The chief operations officer at First Advantage Bancorp (FABK) in Clarksville, Tenn., will moonlight at the bank for the foreseeable future.

An Ohio bank's decision to balk at paying dividends to a private investor in its Troubled Asset Relief Program shares may reduce investor interest in future offerings. That could be bad news for the government in its bid to turn a buck on upcoming share sales.

The banking unit of FS Bancorp (FSBW) in Mountlake Terrace, Wash., has promoted two executives in an effort to strengthen oversight of credit operations.

While some may suggest the practice is warranted so agency attorneys can address deficiencies hurting consumers, ultimately everyone loses when opportunities for frank discussion are lost.

With more plastic in circulation than any other payment network — 2.9 billion cards, or 45 percent of the world’s total last year — UnionPay is now accepted in 135 countries. Its rise is causing friction as the firm grabs market share from Visa Inc. as well as MasterCard Inc., which UnionPay surpassed in customer spending in the first half of the year.

The $352 billion-asset company said late Tuesday it has named John Elmore and Kent Stone to succeed Richard Hartnack, vice chairman of consumer and small business banking, when Hartnack retires in March.

Two community banks have repaid the Troubled Asset Relief Program.