Economy

Politico reported Friday that the head of the Federal Housing Finance Agency is being accused by an employee of making inappropriate sexual advances.

The retailer is ending its nearly two-decade credit card relationship with Synchrony Financial; Mulvaney says the bureau will first negotiate, not sue, to settle disputes.

Since the marketplace model is relatively new, the vast majority of the merchants selling through that channel are new too, meaning they do not have the track record that banks look for when providing loans, writes Keith Smith, CEO of Payability.

The California company also benefited from higher interest rates and double-digit loan growth.

Organizers of Dogwood State Bank want to open Raleigh's first new bank since the financial crisis.

Wells Fargo is considering a sale of commercial real estate broker Eastdil Secured, according to a person briefed on the matter.

First Hawaiian, which is currently being spun off from BNP Paribas, has hired Ravi Mallela as chief financial officer.

John Turner, who became CEO of the Alabama company this month, has promoted John Owen to COO. Its Turner’s second executive appointment this week.

Whoever succeeds current Director Mel Watt will have a front-and-center role in efforts to reform Fannie Mae and Freddie Mac.

The San Antonio company also kept a lid on expenses in the second quarter, further boosting its bottom line.

The Oklahoma bank’s net charge-offs were its second-highest in the last five quarters, but the company said it was confident in its credit quality outlook and growth prospects from a pending acquisition.

The North Carolina regional will pay $30 million for the much-smaller Palmetto Heritage Bancshares.

The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.

Prosperity Bancshares in Houston said that its earnings increased 19% from a year earlier as its efficiency ratio rose.

Vipin Gupta, who was chief information officer at Key Community Bank, will oversee strategy for information technology at Toyota Financial Services.

BankUnited in Miami Lakes, Fla., said that second-quarter earnings rose 36% as average loan and investment securities balances increased.

Elizabeth Warren, Sheila Bair and other regulatory hawks at a D.C. event hailed the reforms enacted in the wake of the 2008 crisis.

Florida created headaches for the Georgia company during the financial crisis. Increased discipline, and wholesale changes to banking, make the $3 billion purchase of FCB Financial less risky, CEO Kessel Stelling says.

Whether you're lounging on the beach sipping mojitos, hiking the Smoky Mountains, or, like many of us, taking a breather from household chores on your staycation, you still need an escape from time to time.

In a 2015 enforcement action, the San Francisco Fed said it had identified problems with the Pasadena, Calif., bank’s BSA and anti-money-laundering compliance programs.