Retail & Commercial

The National Restaurant Association said Tuesday morning that it is joining the growing opposition to the proposed $7.2 billion antitrust settlement with Visa and MasterCard over fees for credit card transactions, another major setback to the endangered deal.

The retail services business for Alliance Data Systems (ADS) has signed a long-term agreement to provide co-branded credit card services to resort developer Westgate Resorts in Orlando, Fla.

Discover’s $200 million payout is substantially higher than the typical settlement between a lender and a banking regulator, suggesting the CFPB wants to significantly raise the financial cost of violations.

Ellie Mae is adding support for automated good faith estimates to its mortgage handling software.

First Capital (FCAP) in Corydon, Ind., will record a pretax charge of $650,000 for the third quarter tied to a voluntary early retirement program.

Private equity may have played a role in the deal. Crescent, led by Scott Custer, has PE backing, while an infusion set for ECB fell through earlier this year.

In former FDIC Chairman Sheila Bair's insider account of the financial crisis and its aftermath, Bair provides a detailed look at regulatory battles and delivers a scathing portrayal of Treasury Secretary Tim Geithner. She also offers key recommendations for reform, including abolishing the OCC.

Mortgage firms including Bank of America that repeatedly ignored rules meant to improve service for struggling homeowners said they're on the verge of complying with standards ordered in a $25 billion settlement.

United Community Financial (UCFC) in Youngstown, Ohio, has reduced its classified assets nearly in half through a bulk sale.