Save Money in this Sunday's paper
Sign up to get the Business Review Newsletter »
The Markets
NASDAQ 4683.41
4,631.10 (-)
NYSE 10691.63
10,532.55 (-)
S&P 2021.25
1,993.38 (-)
Key Carolina Companies
| Symbol Lookup | AP Market Summary

Charlotte-based CommunityOne Bancorp is stepping up its search for other lenders to possibly acquire or merge with, its chief executive said this week, a further sign that the bank is shifting its focus from rebuilding to growth.

The parent company of Charlotte-based Park Sterling Bank said Friday its fourth-quarter profit fell 14 percent from the same quarter a year ago, when its results benefited from a gain related to its public offering.

Federal regulators are urging community banks to monitor the vendors they use for a wide variety of business functions, as cybersecurity becomes a greater concern for U.S. companies.

Wells Fargo said Thursday its community banking president for north Charlotte, Terry Renegar, is retiring after 43 years with the lender and predecessor companies.

Bank of America has cut the bonus pool for equities traders and sales staff by as much as 10 percent as the division’s revenue declined last year, said three people with knowledge of the matter.

BB&T Corp. apologized Wednesday for a processing problem that caused some customer accounts to show incorrect balances or zero funds on Tuesday, an error that resulted in some customers being charged overdraft fees.

BB&T Corp. said Tuesday that a processing problem caused some customers across its U.S. footprint to discover that their accounts showed incorrect balances or that funds were not available.

Bank of America did something it hasn’t done in more than a decade: celebrated the opening of a branch in a new market.

BB&T Corp. said Thursday its fourth-quarter profit set a company record as the Winston-Salem-based lender cut expenses amid lower revenue compared with the same period a year earlier.

JPMorgan Chase and Wells Fargo have agreed to pay more than $35 million combined to resolve claims that loan officers at the two banks received kickbacks in exchange for steering mortgage borrowers to a Maryland title company.

Detractors from both major political parties are preparing legislation to rein in the powers of the Federal Reserve, moves that would test and potentially restrain its independence.

Morgan Stanley's fourth-quarter profit rose as the investment bank recovered from huge legal expenses last year. But it suffered from the same trading slowdowns at other banks and fell short of Wall Street expectations.

Denmark's central bank has decided to cut its key interest rate by 0.15 percentage points to 0.05 percent in anticipation of the European Central Bank's decision on Thursday which could increase upward pressure on the value of the Scandinavian country's krone.

An Ohio man, described by a federal judge as “driven by greed the court rarely sees,” has been sentenced to 21 years in prison in Charlotte.

There’s thought to be about $4 billion worth of bitcoin in circulation, but only a portion of that is being used – partly because speculators are hoarding it, partly because few merchants accept it.

  • More recent business news

(Note: This post has been updated with a comment from Bank of America.)Bank of America is cutting...

Bank Watch

Five years after a global financial meltdown shook Charlotte, some insiders say banks still vulnerable to risk.


Quick Job Search
CharlotteObserver.com