Daily Edition

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

The data aggregator intends to continue sharing data with Envestnet and U.S. banks after the acquisition.

Experts told lawmakers that quantum computers will soon render today's encryption obsolete — and foreign adversaries know it.

Federal Reserve Gov. Michael Barr — who until February served as the agency's top regulator — said community development functions have benefits for the Fed's monetary policy, supervision and research goals.

Carvana and Plaid, with the help of Cross River Bank, have launched Request for Payment, which combines billing with The Clearing House's RTP Network. The option has been slow to gain traction, but the companies are betting large-ticket purchases, such as for an automobile, will be popular.

Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

Supposedly written to expand consumers' "freedom," the rule implementing open banking laws is actually central planning in disguise. It can't be allowed to supplant better, market-driven solutions.

Lenders have been an underdog in the broader market's rally. Now, with stress-test results and the easing of bank capital rules on the horizon, there's a chance for bank stocks to break out.

Banking has long been overseen by independent agencies, though that independence has been waning for years. With the Supreme Court poised to weigh in, experts are questioning where — and whether — to redraw the line between politics and policy.

The regulator and conservator of two influential loan buyers with government ties has directed them to look at digital currency's use in qualifying borrowers.

The digital bank is returning to crypto trading, a service it first offered in 2019 but had to shelve due to regulatory compliance concerns.

The Texas attorney general has accused WEX Bank of "debanking" a firearm supplier, but the Maine-based bank said it does not discriminate against any industry.

Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.

Der Spiegel and other European publications say the company continued to serve porn sites and money launderers even after regulators cracked down on it.