Retail & Commercial

Why would a bank issue prepaid debit cards to its customers? It's an inferior product for consumers and banks alike. Issue prepaid credit cards instead, with four times the interchange.

St. Helen's Community FCU hired a new CEO who immediately urged the board to terminate a merger agreement with nearby Wauna FCU, which would have created a $300 million credit union.

A deal that last week was heralded as reordering the credit card business is receiving pushback from merchants who say it doesn’t go far enough.

Fifth Third Bancorp (FITB) announced Monday that it has hired former JPMorgan Chase (JPM) executive Chad Borton as its new head of retail banking.

Citigroup, the third-biggest U.S. bank, reported a 12 percent drop in second-quarter profit that beat analysts' estimates on revenue from advising on mergers and underwriting stocks and bonds.

Pulaski Bank has filed a lawsuit against three former employees over mortgage data that the Creve Couer, Mo., bank claims the employees took and are using to give their new employer a leg up.

Some merchants are already crying foul over a proposed $6 billion swipe-fee settlement, threatening the payments industry's attempts to move past long-pending litigation.

A final rule places credit reporting agencies under the bureau's nonbank supervision program as part of its "larger participant" powers.

A trade group representing convenience stores rejected the proposed settlement of interchange lawsuits and hired law firm Constantine Cannon to hold out for better terms.

Visa, MasterCard and the largest banks have announced a proposed multi-billion dollar settlement with U.S. retailers in a longstanding lawsuit over swipe fees charged by the networks.