Consumer banking
Consumer banking
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After a judge dismissed a lawsuit brought under the anti-predatory-lending law, the Consumer Financial Protection Bureau and the Federal Trade Commission are urging an appeals court to reverse the ruling. They argue that lenders have little incentive to comply with the 2006 law if the threat of being sued gets diminished.
November 23 -
The Boston bank is engaged in a three-year endeavor to finance $5 billion to meet the credit needs of underserved communities. "This has to be in your DNA because you cannot fake it," CEO Nitin Mhatre said.
November 23 -
Friendly Hills Bancorp will soon be called First Pacific — a name its CEO has coveted for years. First Missouri recently rebranded as Verimore, a name it made up by combining words from Latin and English. In both cases, the changes reflect the banks' expansion into new markets.
November 22 -
Long-tenured CEO Matthew Wagner intends to retire from the company's top job early in 2023, not at the end of that year as initially planned. Paul Taylor, PacWest's president, will succeed him.
November 22 -
U.S. consumers are more likely to apply for a credit card, and less likely to get rejected, than they were last year, according to a New York Fed survey. The card industry is growing even as the mortgage and auto lending sectors show signs of retrenchment.
November 21 -
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BMO Financial in Canada and Re:start, a neobank in Texas, are letting those displaced by war apply for accounts online with atypical documentation.
November 21 -
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The bank said Monday that its interim president and CFO had resigned. This followed the departure of its previous president earlier in November.
November 21 -
The $683 million-asset credit union opened a loan production office in Enfield dedicated exclusively to mortgage and business lending.
November 21 -
Brown has been with the online lender almost since it was spun off from General Motors, helping it broaden its product offerings and take a stand on overdraft fees. Now he must help Ally confront a looming recession.
November 21 -
Savarese was drawn to a career in the financial services industry after witnessing firsthand how economic stability can improve the lives of others. She then spent 17 successful years running the Massachusetts mutual.
November 21 -
The bank has agreed to pay $113 million for the $500 million-asset Surrey Bancorp, which specializes in credit for small to midsize commercial clients as well as government-guaranteed loans.
November 18 -
TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.
November 17 -
The bank postponed its quarterly earnings report and warned of a $27.5 million loss tied to troubles in its digital- asset mining loan portfolio.
November 17 -
Btech Consortium, a partnership between several small banks, a venture capital firm and an asset manager, will identify emerging technologies that meet their members' near-term needs.
November 17 -
Farmers and the bankers who lend to them are increasingly concerned that rising costs will hasten a recession and hamper credit quality in 2023.
November 16 -
Burke & Herbert Financial Services in Alexandria, Virginia, plans to list its shares on the Nasdaq stock market — not to raise funds, but to boost its profile with investors.
November 16 -
The San Francisco bank joined Bank of America, U.S. Bancorp and Huntington Bancshares, which have previously introduced similar products. The Pew Charitable Trusts said the loans are a more affordable option for cash-strapped consumers than payday loans and overdraft fees.
November 16 -
Banks that offer a wide array of products and services are confronting extraordinary challenges. They aren't doomed, however.
November 16




















