Retail & Commercial

RIVERSIDE, Calif. – Navy FCU will open its first new branch of the year this morning outside March Air Reserve Base, the fifth Navy Federal branch in Riverside County.

KANSAS CITY -- The Kansas City CU will open two new branches later in the summer, giving the $102 million credit union five locations overall.

MADISON, Wis. – A new study released Friday by the Filene Research Institute challenges the flood of credit union spending in recent years on new branches, concluding the proliferation of new delivery channels has made traditional brick and mortar an expensive, and in many cases, an unnecessary option.

The highest court in Massachusetts rejected, in part, a challenge from a Boston homeowner who had contested the validity of her foreclosure, in a widely watched case that threatened to cause a wave of new legal problems for banks seeking to repossess homes.

Supporters of the Consumer Financial Protection Bureau are dismissing a new lawsuit that seeks to abolish the agency as a political stunt, and even bank industry insiders who would like the case to succeed are privately calling it an uphill battle. But it may still have an impact on the CFPB's operations in a more indirect way.

The annual American Banker/Reputation Institute survey ranks the health of consumer perceptions regarding 30 of the biggest names in retail banking. Is there a prescription for what ails these institutions?

Kearny Financial (KRNY) of Fairfield, N.J., has decided to skip its next quarterly dividend payment despite a proposal from the Federal Reserve Board that would prohibit thrift holding companies from missing dividend payments.

Bank of America (BAC) is the latest bank to announce that it will redeem its trust-preferred securities in advance of new capital requirements that will start being phased in at the beginning of 2013.

USAmeriBank of Largo, Fla., has purchased a building in Tampa, Fla., where it intends to open a new branch and staff it with 25 new hires.

Bank of America, Citigroup and JPMorgan Chase have even more reason to hold back on lending and consider more sales of noncore units after Moody's lowered their credit ratings.