Retail & Commercial

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said.

The economic contraction caused by the coronavirus pandemic has been worse than the Wall Street firm had modeled two months ago, its president John Waldron said Wednesday.

Credit card and debit card spending have improved for several weeks in a row, according to a report from PSCU.

University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.

The company will incur an upfront fee but will save $7 million a year by walking away from a deal with the Los Angeles Football Club.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

A new program is intended to reach individuals without a fixed address or checking account more easily access COVID-19 relief funds — and hopefully keep those consumers as members.

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

The Dallas bank appears to be at a crossroads after its merger with Independent Bank Group was called off Tuesday.

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.