Retail & Commercial

The banking SuperPAC is eyeing seven candidates — four Republicans and three Democrats — as it decides what two races to support in late September or early October. Following is the short list of who is under consideration.

BEAVERTON, Ore. – The $550-million Rivermark Community Credit Union said it plans to close branches in Clackamas and Newberg, Ore., and will focus on encouraging members to use mobile and online solutions for transactions.

Malvern Federal Bancorp (MLVF) in Paoli, Pa., will raise up to roughly $36.4 million by converting to a 100% stock-owned company from a mutual holding company.

In an effort to make up for some of the shelf space it could soon be losing at big-box retailers, Green Dot (GDOT) is partnering with student lender Sallie Mae to market a prepaid card to students who do not have a traditional bank account.

Investor and director Steven Sugarman will now share CEO duties with Gregory Mitchell at First PacTrust of Irvine, Calif. The company announced a bank deal Wednesday, and Sugarman is expected to take lead on nonbank deals.

BMO Harris Bank in Chicago has tapped a former SunTrust Banks (STI) executive to help steer its growth in the car-dealer lending business.

Industry observers are advising more community banks with trust-preferred securities to raise capital now before Basel III puts them at odds with regulators.

JPMorgan Chase and the Living Social website teamed up to honor 12 small businesses, including a garment maker for the medical industry.

Broadway Financial's (BYFC) woes continued as the Los Angeles company said that its financial results for 2011 and the first quarter of this year will have to be revised and could no longer be trusted.

PayPal's point of sale mobile payment system combines over half a decade of initiatives — and a few notable setbacks along the way.