The agency may finally be reaching resolution on whether Fannie Mae and Freddie Mac will allow principal reductions, two years into Director Mel Watt's tenure as agency director and nearly a decade after the mortgage bubble burst.

West Virginia Attorney General Patrick Morrisey’s office has reached a $19.7 million settlement with Cavalry Portfolio Services in a six-year-old case where the debt collection firm faced accusations of pursuing debts in West Virginia without a license to do so.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issue a proposal to rein in high-cost payday loans.

Todd Sherman, who with his brother Tyler Sherman co-founded mortgage software developer Motivity Solutions, has died.

The sheer volume of regulations adds time and expense to closings without much benefit when consumers’ main interest is to get funds as quickly as possible.

South State in Columbia, S.C., has promoted one of its executives to become chief executive of its bank.

The Federal Trade Commission cautioned the collection industry to avoid buying, selling or collecting any alleged payday loan debt portfolios serviced by AMG Services.

An activist investor is laying the groundwork for a potential proxy battle with Seacoast Banking Corp. of Florida in Stuart.

Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor.

The Supreme Court on Monday asked the executive branch for its views on a legal case that has sparked worry within the financial industry. That opinion is expected to have a big impact on whether the justices decide to hear Madden v. Midland Funding.

American Express cut chief executive officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year.

Lincoln Park Savings Bank in New Jersey is now Lincoln 1st Bank.

Federal financial regulators have instructed banks to extend procedures for collecting customer identification information to certain holders of prepaid cards.

Capital Bank Financial in Charlotte, N.C., will record a first-quarter $5.5 million net loss, after it agreed to an early termination of its loss-share agreements tied to three failed banks.

Germany's solarisBank is hoping to power the next wave in fintech evolution, by allowing companies to use its banking license and APIs to build scale in their businesses.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issues a proposal to rein in high-cost payday loans. A chief concern is what will replace payday lenders if federal regulations force many of them to shut down.

A dozen banks from Arkansas to Virginia are nearing $10 billion in assets, where they will face higher compliance costs and caps on interchange fees. Mergers among those institutions could create a new class of regional bank.

Chicago-based Avant said Monday that it has started offering to refinance car owners’ loans. The firm also plans to begin financing purchases of new and used vehicles later in 2016.

Ripple, the San Francisco-based digital currency network operator, has opened a headquarters in London in a move to leverage growing demand in Europe.

The Supreme Court on Monday asked the Obama administration to express its views in a case that has raised doubts about the business model used by many online lenders.