Credit union professionals have surprising praise for a financial empowerment program from their frequent foe, the Consumer Financial Protection Bureau.

From donations to help Puerto Rico recovery efforts to aiding CMN hospitals, the United Way and more, here's how credit unions are giving back.

The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures.

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue.

The proposal builds on guidance the agency gave to Fannie Mae and Freddie Mac earlier this year.

Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.

Financial services companies must incorporate digital, technical and cognitive empathy into the way they think about delivering their products in a digitized future.