Retail & Commercial

Sen. Bob Corker said Wednesday he plans to oppose extending the Transaction Account Guarantee program, just days after the Senate's top Democrat proposed a two-year renewal.

Online spending rose 17 percent on the Monday after Thanksgiving, one of the busiest days of the year for Internet retailers, as tablets and smartphones let customers shop anytime and anywhere. EBay mobile sales volume more than doubled on Cyber Monday, compared with the previous year, and PayPal payment volume nearly tripled.

We now have two different definitions of a "high-cost" mortgage, as well as a "higher priced" mortgage, and a "higher risk" mortgage. Clearly, Congress failed to practice what it preaches.

The Payment Card Industry Security Standards Council's participating organizations voted that third-party security assurance and best practices will be the two key areas for the PCI special interest groups to study in 2013.

Senate Majority Leader Harry Reid has sponsored a standalone bill to give the Transaction Account Guarantee program another two year. The extension, which many community bankers view as critical, is still very much in doubt.

Coronado First Bank (NADO) in California has agreed to buy San Diego Private Bank for roughly $15.5 million in stock.

Cardinal Bankshares said that falling property valuations and foreclosure charges contributed to a loss during its third quarter.

Provident New York Bancorp has hired veteran financial industry executive Luis Massiani to be its next chief financial officer.

Banks must understand the risks associated with a potential partnership, assess how the effort will support their overall strategy and hire the right talent to manage the venture once it has been approved.

By pressing ahead with business banking, auto lending and branch expansion, Stephen Steinour has Huntington moving fast and thinking big.