Retail & Commercial

Bank of New York Mellon (BK), the world's largest custody bank, said third-quarter earnings climbed 11% as rising stock prices helped expand customer assets.

Bricks-and-mortar locations aren’t yet obsolete. Leading banks are responding to changing consumer demands by developing specialized branch formats, increasing their focus on advice and emphasizing proactive engagement with customers.

U.S. Bancorp, the nation's biggest regional lender, said third-quarter profit climbed 16 percent to a record, beating analysts' estimates as mortgage-banking revenue more than doubled.

Bank of America Corp., the second- largest U.S. lender, said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm's debt.

Sterling Financial in Spokane, Wash., said that two lawsuits filed over its bank's overdraft fees have been dismissed.

Giving merchants technical support whenever they need it — as opposed to a technology-based tool — is a lesson that’s taken on greater significance as FrontStream develops its product to compete with Square.

Dodd Frank 1073, which covers remittances and U.S. initiated international payments, is one of more than two dozen payments related rules or regulations either issued in 2012 or with a pending deadline during the next year, which cover most payment types.

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EAST LOS ANGELES – The $1.2-billion NuVision FCU said it will close a branch here at the end of October, further limiting the already limited number of financial outlets in this low-income side of town.

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