Retail & Commercial

The House Democratic Caucus formally elected Rep. Maxine Waters Tuesday as ranking member for the House Financial Services Committee.

Greenwich Associates announced Monday it has agreed to acquire Javelin Strategy & Research for its work in mobile and multichannel banking, payments, security and fraud, among other expertise.

As growth in the credit card industry has stalled nationally, a group of small issuers have kept their foot on the gas.

First Horizon National (FHN) is adequately reserved to cover all buyback requests from Fannie Mae and Freddie Mac, Bryan Jordan, its president and chief executive, said Tuesday.

JPMorgan Chase's (JPM) mortgage business has remained strong this quarter, outgoing chief financial officer Doug Braunstein said Tuesday.

U.S. Bancorp will raise reserves for bad mortgages in response to a directive from Freddie Mac, CEO Richard Davis said. He also foresees a "difficult" next year in banking, and is cautious on M&A.

The Senate passed an amendment Monday that would tighten a law barring lenders from charging members of the military more than 36% interest on their loans.

Alliance Bankshares' sale to WashingtonFirst Bankshares has been approved by regulators and endorsed by proxy advisory firms, but now comes the hard part: reaching its far-flung investor base.

The FDIC's third-quarter report on the health of the industry shows lending climbed upward, but reduced loss provisions and sales of existing assets are what boosted earnings.

Wells Fargo is still evaluating potential acquisitions, but the opportunities presented by the Euro crisis may no longer be available, according to the company's CEO.