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Mackinac Financial in Manistique, Mich., has promoted an executive from its bank to become its next chief financial officer.

Although the Consumer Financial Protection Bureau’s long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans offers a nod to NCUA’s Payday Alternative Loans (PALs) program, CUs are concerned the plan will stifle their ability to offer consumer-friendly alternatives to an often predatory market.

Sen. Elizabeth Warren, the founder of the Consumer Financial Protection Bureau, said Thursday she would fight back against congressional efforts to delay or revamp the agency's payday lending proposal even while she acknowledged the plan could have been tougher.

Branch managers are essential, but it is the manager's manager that can set the tone for the performance of a bank's branch program.

TDECU VP earns top honors for inclusion efforts, A Unity One exec is recognized for lending and service excellence and other CU professionals in the news.

Mortgage Laws Put Lenders in a Bind; Rappers' Fraud Confession

Castle Creek Capital Partners has appointed a director to serve on the board at HCSB Financial in Loris, S.C.

The Consumer Financial Protection Bureau issued its long-awaited proposal Thursday to regulate payday, auto title and certain high-cost installment loans without a key provision that would have allowed banks to compete by offering their own small-dollar loans.

The prepaid card issuer issued conflicting statements in recent weeks as customers complained that they were unable to access their funds.

How Eastern Bank pulled off something few community banks have: launching a digital lending product that the 197-year-old mutual dreamed up in its innovation lab.