The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
While the banking industry is winning over low- and middle-income groups, it is still trying to regain the trust of high earners who were stung during the financial crisis.
The payments processor Square has big plans in banking — but even after filing an application to charter an industrial loan company, it still doesn’t see itself as a competitor to most financial institutions.
Armed heists are becoming less common, but the overall number of robbery attempts has ticked back up in recent years. The opioid epidemic is a likely reason, according to an industry expert.
An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many.
Consumer Financial Protection Bureau Director Richard Cordray allegedly misled Congress about the agency's investigation into Wells Fargo's illegal sales practices and may have rushed a settlement with the bank, according to a report by the GOP.
Sen. Elizabeth Warren, D-Mass., called for bipartisan action against Equifax during a Senate floor speech on Tuesday, criticizing the credit bureau for waiting several weeks after a massive data breach to reveal it to the public.
Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.
Professor of City Planning
University of Pennsylvania
Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.
In the string of scandals over how women are treated in the tech sector, SoFi is particularly egregious. Reese Witherspoon tackles the trouble with ambition for women. Plus, Edith Cooper and Lori Beer.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
