Fintech

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

Early Warning Services, which operates the Zelle peer-to-peer payments network, is working to educate consumers about common scams, but it faces criticism over how its banks respond to victims.

Chicago Title Insurance Co. and Chicago Title Co. LLC agreed to the payment to resolve a lawsuit brought by the bank, which said the firms had helped orchestrate a borrowing scam involving liquor licenses, according to a regulatory filing.

Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.

Bank of America’s consumer clients made $294 billion of total payments last month, up 16% from a year earlier, as the U.S. economy continued its recovery from the coronavirus pandemic.

Zeta Services, a banking and credit card technology unicorn, has raised $30 million from investors including Mastercard, and the two announced a five-year collaboration to help customers launch credit card services.  

New research shows that young Americans are finding it increasingly difficult to buy a home of their own. The co-author of a series of reports will delve into discoveries around the factors why.

Citigroup said profitability will fall as the bank pursues a strategy shift that it said will raise expenses in the near term.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Bank of America is under investigation in connection with its role as the administrator of a state program that was rife with fraud. The fiasco is one of several involving the prepaid card industry over the last 12 years.