Retail & Commercial

Royal Bank of Canada, the country's largest lender by assets, agreed to buy the Shoppers Optimum credit-card portfolio from Bank of America to extend its MasterCard offerings.

Bank of the James Financial Group (BOTJ) in Lynchburg, Va., has raised $10 million through a private placement of unregistered debt.

Unpredictable card terms and conditions make it hard for small-business owners to budget. If they can't allocate funds with confidence, they're less likely to hire employees, hurting the economy.

Charles Collum, a former chairman of Virginia's oldest bank, will run a loan office in the north of the state for John Marshall Bank.

BankAtlantic's former parent is officially no longer regulated as a financial holding company. The Fed released BFC Financial and affiliate BBX Capital from being registered as a thrift holding company.

M&T's bid for Hudson City has the deal world abuzz with talk of who'll be next. The Fed, meanwhile, is trying to calm angry community bankers as the entire industry mulls the implications of the November election.

Retail credit unions can improve their net worth only through retained earnings. That's made a stressful period for all financial institutions particularly challenging for this category. Let them raise capital.

Hancock Holding Company in Gulfport, Miss., has named Deborah Conrad, a veteran international banker, as manager of its new export-finance group.

John Marshall Bank in Reston, Va., has appointed Charles K. Collum, a former chairman of Virginia's oldest bank, Burke & Herbert Bank, to head a new loan office in Alexandria.

Royal Bank of Canada agreed to buy the Shoppers Optimum credit-card portfolio from Bank of America to extend its MasterCard offerings.