Retail & Commercial

Poverty is the next big business in banking - but there are plenty of pitfalls before it becomes the next big success in banking.

Dr. Daniel Vasella, chairman of multinational pharmaceutical company Novartis, has been named to the board of directors at American Express (AXP).

Security and compliance are still daunting issues for merchants. Phoenix Managed Networks hopes to ease this pain by offering its network security product to "hundreds of thousands" of merchants through a new partnership with Sysnet Global Solutions.

The $70.8 million deal would add 13 branches and $550 million of deposits in the growing Pittsburgh market.

The card-fee kerfuffle, CFPB vs. Cap One, a summer of scandals and earnings. As discussed by American Banker editors.

The deal with Apple Bank provides Emigrant with much-needed capital, though the private bank's lofty price expectations may have warded off other potential bidders, sources says.

Virginia Commerce Bancorp (VCBI) is delaying its planned exit from the Troubled Asset Relief Program following discussions with the Federal Reserve Bank of Richmond regarding its repayment plan.

First Horizon National (FHN) in Memphis said Friday that it lost close to $125 million in the second quarter after it bought back scores of soured mortgage loans from Fannie Mae and Freddie Mac.

Business borrowers are worried about the economy, and that could slow the momentum in lending the rest of the year, the heads of BB&T, Fifth Third and Huntington warn. However, banks can survive by stealing market share, focusing on stronger markets and managing risk, executives say.

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.