Retail & Commercial

Illinois state regulators closed $88.9 million-asset Waukegan Savings Bank, the fortieth failure of the year nationwide and the sixth in the state.

The chairman of the House Financial Services Committee is urging federal banking regulators to extend the comment deadline on Basel III capital reforms for another 90 days to give bankers more time to digest the rules and better assess their impact.

A private-equity firm has plans to acquire a large stake in TriState Capital Holdings, a Pittsburgh company cofounded by a former state regulator.

First California CEO C.G. Kum has already received a hostile offer from PacWest's Matt Wagner, and other bidders — including U.S. Bancorp, Umpqua and City National — could join the fray.

Simply stated, merchants have agreed the Visa/MasterCard interchange fee settlement resolves all past disputes and establishes a system that will govern payments in the future. Nothing remains for Congress, or anyone else, to address.

SunTrust Banks (STI) in Atlanta will offer a new loan program that allows borrowers to refinance their existing private student loans.

It took more than a year for First PacTrust, which was new to the M&A game, to get banking regulators to approve its deal for Gateway Bancorp. The deal is scheduled to close in two weeks.

Across the industry, the formation of new credit problems has fallen to pre-recession levels. Assets continued to sour at a troubling pace at some banks in the second quarter of 2012, however.

The prepaid provider NetSpend is projecting an increase in revenue in the second half of the year as it aims to grab additional retail business from its chief rival.

Hungary’s antitrust regulator confirmed that it’s investigating alleged abuses by MasterCard Inc. over the company’s dominant position on the interbank market.