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Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.
June 25
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The Federal Reserve governor said regulatory response to this spring's bank failures should be targeted on key issues and emphasize transparency.
June 25
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The legislation has support among Republicans, who hold a slim majority in the chamber.
June 23
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After working for the Federal Deposit Insurance Corp. for a decade, Marc Minish was determined that he could open his own institution. Now he is the primary organizer of the proposed Nova Bank in Huntsville, Alabama, which has received conditional regulatory approval.
June 23
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The KBW Bank Index and KBW Regional Banking Index have each fallen more than 4% this week and are set for their worst weeks since early May, when JPMorgan Chase agreed to acquire First Republic Bank following its failure.
June 23
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The online game, CoastalWorld, introduces players to the bank's fintech and neobank partners.
June 23
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While the vast majority of staffers are following the firm's rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences.
June 23
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Aite-Novarica, RBR rebrand as 'Datos Insights'; Singapore fines DBS, Citi for breaches in Wirecard scandal; the top-ranked employers for working fathers on Wall Street and more in this week's banking news roundup.
June 23
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The German bank's New York branch was entangled with U.S. regulators and law enforcement agencies for more than a decade in connection with money laundering and sanctions violations.
June 23
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A former employee of The Change Company, which is the largest non-traditional mortgage lender in the U.S., claims in a new lawsuit that the firm mischaracterized the race, ethnicity and income of its borrowers. The company says the allegations, which relate to the representations it makes to be certified as a community development financial institution, are meritless.
June 23
