Retail & Commercial

FirstBank of Lexington, Tenn., has named its chief banking officer as its new president.

Consumers are increasingly using payment cards at vending machines, and the owners of the devices are reaping the benefits through higher ticket sales and increased transaction volume.

Citigroup launched a credit card for business owners that allows users to earn rewards across their business and personal spending.

Schiff Hardin in Charlotte, N.C., just created Schiff Hardin Strategic Advisers to help banks distance themselves from past problems and prevent them from reoccurring. The firm is led by two former Wachovia executives.

The Federal Trade Commission charged a telemarketing operation with running a deceptive investment scheme that took in at least $10 million from mostly elderly consumers, many of whom invested their retirement savings buying precious metals on credit without knowing the costs and risks.

Fraud is eating 1.5% of the revenue from airline tickets sold online as merchants struggle to block criminals without making the purchase process too cumbersome for consumers.

A San Antonio community bank owned by the family of prominent businessman Tom Benson is acquiring another small bank in what would be its first-ever acquisition.

Taylor Capital Group (TAYC) in Rosemont, Ill., is expanding its mortgage unit by hiring more than 60 retail mortgage professionals from Amera Mortgage in Milford, Mich.

Most banks take a one-size-fits-all approach to their branching strategies rather than tailor products and services to each branch based on the needs of individual markets.

Square has shut out independent sales organizations as distributors of its mobile card reader. Now one ISO has gone on the offensive by offering its own.