Retail & Commercial

Unicredit America Inc., the Erie, Pa.-based collection agency that used a fake courtroom to coerce debtors to pay, could have to pay more than $1.2 million in penalties pending a ruling by Senior Erie County Judge John A. Bozza.

After the filing of a civil complaint alleging fraud in Bear Stearns' mortgage-backed securities operation, New York Attorney General Eric Schneiderman says he expects more cases to come.

Federal Housing Administration endorsements of condominium loans surged to 5,000 units in August, a 20% spike form the month prior, according to new figures released by the agency.

The Federal Housing Finance Agency said Tuesday that The Cogsville Group LLC has purchased 94 Fannie Mae properties in Chicago as part of a REO pilot initiative.

Bank deals priced at or below tangible book value grew steadily in the first three quarters of 2012, and more are said to be coming as struggling banks start to turn the corner and attract buyers.

Don't focus solely on cost savings. Instead, articulate that you're willing to look at new ideas and projects to help improve margins. This will inspire managers to tap into a fresh wave of thinking.

Banks with at least $10 billion of assets saw their share of deposits increase to 74.4% at midyear from 72.4% a year earlier, the FDIC said Tuesday in its annual Summary of Deposits. Also, the number of U.S. branches and thrifts shrunk.

Matt Williams, incoming chairman of the American Bankers Association, says banks can rebound by drawing on lessons from past crises, updating business models and hiring a new generation of bankers.

Overall, 81% of U.S. investors say they have some form of savings they can draw from if they lose their jobs, according to a Wells Fargo-Gallup Investor and Retirement Optimism Index survey released Monday.

Housing and Urban Development Secretary Shaun Donovan defended efforts by the Obama administration to help the housing market recover, arguing it faced significant hurdles over the past four years.