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The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.
August 18 -
Dutchie, an online cannabis delivery service for dispensaries, has raised $35 million by attracting rapper Snoop Dogg, basketball star Kevin Durant and former Starbucks CEO Howard Schultz as investors.
August 18 -
Credit unions added more than $176 billion to savings balances in the first half of the year, according to new analysis from Callahan & Associates.
August 18 -
Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.
August 18 -
American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.
August 18 -
JPMorgan Chase is funding a two-year initiative in which Commonwealth, a nonprofit, will study the impact of artificial intelligence and other technologies on the financially vulnerable.
August 18 -
Growing Oaks Federal Credit Union in Goldsby, Okla., plans to provide signature and auto loans initially and then expand into mortgages.
August 18 -
Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking.
August 18 -
Willy Kelsey has worked at the Arlington, Texas-based credit union since 2005 and will oversee lending, retail operations and IT in his new role.
August 18 -
Non-card APMs are no longer an option but an absolute necessity. If they are not available, businesses face a “transaction declined” scenario where their customers will simply go elsewhere, says gaming payments expert James Ashton.
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