Retail & Commercial

HNW is launching a retail banking practice to help banks reach the mass affluent.

Citigroup Inc. (C) has appointed Hong Kong-based Jonathan Larsen to global head of retail banking as Chief Executive Officer Vikram Pandit pushes deeper into Asia for revenue growth.

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The biggest U.S. banks — Bank of America, Citigroup, JPMorgan Chase and Wells Fargo — are extending less credit amid a faltering economic recovery as regional lenders step in to fill the gap.

U.S. agents arrested two dozen people in 13 countries as part of a global undercover operation targeting credit-card hacking that may have affected hundreds of thousands of customers.

Carver Bancorp (CARV) reported a wider loss for the quarter that ended on March 31, compared to a year earlier, largely because of higher chargeoffs and reduced loan income.

Bank of America (BAC) has hired more than 30 bankers in Washington as part of a broader plan to target small-business customers.

USAA Bank has started offering a cobranded MasterCard with an organization that promotes the interests of enlisted personnel and their families.

R. Eugene Taylor's Capital Bank would have to pay nearly $4 million more for F. Scott Bauer's Southern Community in a new, all-cash deal thanks to market swings that complicated their earlier cash-and-stock agreement.

Banks and Farm Credit lenders are typically rivals, but Huntington Bank and GreenStone Farm Credit Services have set aside their differences to come to the aid of Michigan fruit growers and processors.