Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.

The director of the Consumer Financial Protection Bureau told a fintech audience Thursday that banks need to make it easier for consumers to switch accounts, and should make lending decisions with less reliance on credit scores.

Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.

The Richmond, Virginia-based bank has created a $5 million legal reserve fund with an eye toward resolving a long-running regulatory inquiry by the CFPB

The House Financial Services Committee passed several bills through to the full House that would toughen congressional oversight of the Consumer Financial Protection Bureau.

The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.

The Consumer Financial Protection Bureau said it is still working to notify consumers about the Feb. 14 breach in which a bank examiner sent personal information on 256,000 consumers and supervisory information on 45 institutions to his email.

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

The cost and scope of data sharing were among bankers' top complaints, while fintechs would like fewer restrictions, a report by the Consumer Financial Protection Bureau found.