Retail & Commercial

In its ongoing effort to distinguish itself as a specialty lender, the Jacksonville, Fla., company announced Monday that it has established a golf lending division and that it has hired a team of lenders away from TCF Financial (TCB) to run it.

Citigroup Inc. named Vikram Bhardwaj as Asia-Pacific head of consumer investment banking, according to a memo obtained by Bloomberg News.

Wells Fargo is expanding loans to customers of General Motors, threatening to take business from Ally Financial as the bailed-out auto lender seeks a turnaround.

Total System Services is taking a different approach to sales by forming a joint venture with Central Payment Co.

Almost two-thirds of small businesses in the Federal Reserve Bank of New York's region that sought credit received some form of financing, according to a poll conducted by the bank during the second quarter.

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Alliance Data Systems (ADS) has signed a long-term agreement to provide private-label credit card services for retailer Stage Stores (SSI).

Credit card asset-backed securities likely will remain stable for the foreseeable future because card charge-offs and delinquencies are at historic lows, consumer bankruptcies keep falling and consumer balance sheets are getting healthier, according to Standard & Poor's Ratings Services.

This year's drought could cause many farmers to default on ag loans, particularly those tied to livestock. For banks with high concentrations of ag loans, the drought poses the first major credit challenge since the financial crisis.

GE Capital Retail Bank has reached a long-term agreement with Wal-Mart Stores' (WMT) Sam's Club to continue providing the credit card program to the Sam's Club's Advantage and Business members.