Kevin Wack

The former banking lawyer, who went on to run major business lines at Merrill Lynch and UBS, will be honored Thursday at American Banker’s Most Powerful Women in Banking gala.

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.

The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay.

Among the three measures is a requirement for boards of publicly traded firms to include more women.

The Department of Justice and the Securities and Exchange Commission announced settlements Friday related to alleged misconduct that occurred during Renaud Laplanche’s tenure atop the online lender.

Renaud Laplanche agreed to pay $200,000 and accept a ban from the securities industry to settle a long-running SEC probe. A LendingClub subsidiary and the firm's former CFO, Carrie Dolan, were also fined.

The nation's largest bank overtook PNC Bank to snag the top spot in an annual study that evaluates satisfaction levels at the nation's six largest retail banks.

Gov. Jerry Brown’s administration sent letters Wednesday to 20 nonbank lenders that charge triple-digit annual percentage rates to try to determine if their use of online referrals is steering borrowers into larger loans than they want or need.

The report from an advocacy group that focuses on college affordability says schools need to do a better job of educating students about their eligibility for federal loans, which typically carry lower interest rates than loans from private-sector lenders like credit unions.

An examination of industry sales tactics conducted after the Wells Fargo scandal found that credit card accounts (not checking or savings) were the largest source of account openings without customer permission.