Retail & Commercial

The Los Angeles bank did not explain what it is investigating. It announced record annual earnings of $56.9 million in January, but news of the investigation and the uncertainty around CEO Alan Thian sent its stock price downward by 15%.

Citigroup has been pulling back retail operations from broad swaths of the globe, but its commercial banking business is finding new regions for expansion.

An ultracompetitive job market is forcing lenders to boost salaries, requiring many to caution investors that expenses could jump before profits from higher rates are realized.

Klarna Bank is adding the option for customers to pay immediately at checkout in nine new markets while expanding its rewards program, as it targets becoming a one-stop lender for consumers.

The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.

The Northeastern banks had aimed to wrap up their deal by Feb. 21, but the Federal Reserve — the last of the regulatory authorities they need approval from — hasn’t signed off yet.

Super Bowl ads' impact, another overdraft-fees ouster, and more in banking news this week.

The Providence, Rhode Island, bank expects to finalize its purchase of 80 HSBC Bank branches on Friday and complete a systems conversion over the weekend. Its pending deal for Investors Bancorp is on track to go through early next quarter, Chief Financial Officer John Woods said.

Government officials spend a lot of time criticizing banks for gouging customers even though their own statistical reports demonstrate that fees are not a major issue for consumers.

Some investors worry the rebound in consumer lending will inevitably lead to more defaults. Here’s why bank executives disagree.