Banking

VantageScore Solutions LLC announced Thursday that the results of a consumer survey found Millennials remain cautious about key life events years after the recession.

In a record Federal Trade Commission settlement involving payday lenders, two companies will pay $21 million to resolve charges that they violated the law by charging consumers undisclosed and inflated fees.

The former head of the bankrupt Mt. Gox Co. bitcoin exchange was originally believed by U.S. investigators to be the secret mastermind behind the Silk Road online drug marketplace, an agent who infiltrated the website told jurors at the trial of the man prosecutors now accuse of running it.

The Washington State Department of Financial Institutions (DFI) Consumer Services Division announced this week that it has fined illegal payday lenders more than $280,000 in fines since 2013.

PNC Financial Services Group in Pittsburgh reported flat earnings from a year earlier due to a slight drop in revenue and marginally higher costs.

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First Sound Bank in Seattle has agreed to buy Eastside Commercial Bank in Bellevue, Wash.

Home Financial Bancorp in Spencer, Ind., has hired a consulting firm after the unexpected death of its chief financial officer.

SVB Financial in Santa Clara, Calif., has agreed to sell a specialty finance business in India at a net loss.

SunTrust Banks in Atlanta reported lower fourth-quarter profits as legal costs related to mortgages offset an increase in loans and deposits.

Home BancShares in Conway, Ark., swallowed $1.7 million of merger-integration costs in the fourth quarter, capping a year of investment in its expansion.

Profits at People's United Financial in Bridgeport, Conn., edged up in the fourth quarter thanks to fee income and loan growth.

Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them.

The president's job at Northwest Indiana Bancorp of Munster, Ind., has been passed on to a fourth generation of Bochnowski. The company said Benjamin Bochnowski, who remains the company's chief operating officer, will have the same posts at its bank.

Wintrust Financial in Rosemont, Ill., reported higher quarterly earnings on increased revenue, with fourth-quarter profit rose 8% from a year earlier, to $38.13 million.

The Obama Administration's issued looser rules Thursday for transactions in the small island nation, but banks still face impediments.

First Republic Bank in San Francisco reported flat fourth-quarter profits as strong deposit growth and gains in both interest and fee income were largely offset by higher expenses.

Google, an early investor in LendingClub, is using the online platform to help it sell more services to businesses.

Under pressure from Congress and credit unions, the NCUA significantly dialed back its proposal to institute risk-based capital requirements, raising the threshold of which institutions must comply and softening other provisions.

Bank of America's expenses still far exceed those of JPMorgan Chase and Wells Fargo, so analysts were clearly disappointed Thursday when CEO Brian Moynihan failed to outline any specific plans for further lowering overhead.