Retail & Commercial

National Penn Bancshares, the $8.4 billion-asset parent company of National Penn Bank, said Tuesday it plans to move its headquarters to Allentown, Pa. from Boyertown, Pa.

Commerce Bancshares (CBSH) in Kansas City, Mo., reported that third-quarter earnings rose about 1%, to $66 million, from a year earlier as loan demand increased.

In selecting Michael Corbat as its new CEO, Citigroup is turning to a team player who's overseen the sale of a half-trillion dollars in assets since the financial crisis.

State Street Corp., the third- largest custody bank, said third-quarter profit fell 0.6 percent as revenue from foreign-exchange trading declined and low interest rates continued to depress earnings.

Bank of America is offering a service that makes it possible for travelers to retrieve their chip-and-PIN card's forgotten PIN without calling a customer service representative or waiting for a mailed response.

Citigroup chief executive Vikram Pandit resigned effective immediately on Tuesday, the third-largest bank said on Tuesday morning.

PNC Financial Services, the seventh-largest U.S. bank by deposits, said third-quarter profit climbed 11 percent as mortgage revenue helped drive an increase in non-interest income.

As financial institutions increasingly create specialized credit and debit cards and merchants continue to push loyalty cards, the overwhelming abundance of plastic could create a greater need for a mobile wallet than any other consumer incentive.

A report from the CFPB's ombudsman found that problems endemic to mortgage servicing are prevalent in student loan servicing as well.

Pacific Premier Bancorp (PPBI) in Costa Mesa, Calif., has agreed to pay roughly $53.7 million to acquire a niche bank to help fund future loan growth.