Retail & Commercial

Freed from an enforcement order that led it to sharply reduce its assets, Guaranty Bancorp in Denver is now turning its attention to growth.

Furnitureland South, a home-furnishings showplace based in Jamestown, N.C., has selected TD Retail Card Services to develop and administer its new private-label credit card, the retailer announced June 4.

Credit Solutions of America, a Dallas-based debt resolution company, and owner Doug Van Arsdale must pay nearly $14 million in penalties and restitution to the state of Colorado and former clients for violating state laws, according to Attorney General John Suthers' office.

BancorpSouth (BXS) has reached a settlement in principle for a class-action lawsuit alleging that the Tupelo, Miss., company violated federal securities law.

Royal Financial in Chicago reported a fiscal third-quarter loss of $421,000, compared to earnings of $41,000 a year earlier, as noninterest expense rose.

Berkshire Hills is paying for its latest acquisition, of Beacon Federal, in a way that protects shareholder returns at the expense of its tangible book value.

Consumer gloom about the economy appears to be putting a damper on credit card borrowing.

FlexWage, which provides short-term financing to underbanked consumers, says its products are cheaper and more customer-friendly than the payday loans that regulators are scrutinizing.

Employment in the residential finance sector fell to 266,100 full-time positions in April from 267,600 in March, a difference of about 1,500 jobs, according to figures compiled by the U.S. Bureau of Labor Statistics.

The mortgage industry may have another problem on its hands: originations as measured by Fannie Mae and Freddie Mac acquisitions in the secondary market took it on the chin late this spring.