Retail & Commercial

A fraud case that contributed to the recent failure of Montgomery Bank in Georgia could lead to more regulatory scrutiny when community banks look for outside investors.

Wells Fargo — the nation's largest funder of home mortgages through loan brokers — is calling it quits on wholesale lending, dealing yet another devastating blow to this struggling origination channel.

Commerce Bancshares in Kansas City, Mo., reported second-quarter income of $74.3 million, up more than 7% from a year earlier, as credit quality continued to improve.

Wells Fargo (WFC), the largest U.S. mortgage lender, will pay $125 million to settle federal claims it violated fair-lending laws, according to a person with direct knowledge of the agreement.

Lenders are notifying more delinquent homeowners they face foreclosure, a step toward clearing a backlog of properties and helping to accelerate a housing recovery, according to RealtyTrac.

Georgetown Bancorp in Massachusetts has raised $11 million and completed its conversion to a stock-owned firm from a mutual holding company.

GREENWOOD VILLAGE, Colo. – Bellco CU celebrated its newly relocated downtown Denver branch with a grand opening this week, the third branch opened by the $2-billion credit union so far this year.

TULSA, Okla. – Oklahoma Central CU celebrated its new headquarters and branch Tuesday at the former site of the historic Camelot Hotel, which was torn down nearly five years ago.

ST. PAUL, Minn. – Affinity Plus FCU has rolled out a new branch format that it said transforms member service reps into “multi-purpose member advisors.”

A new museum exhibit chronicles the history of New York's banking scene.