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LendingClub Corp., which plunged 51 percent last week after the surprise departure of its leader and disclosure of faulty internal controls, said the scandal is prompting investors to suspend debt purchases and spurring government probes.
May 16 -
The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of false, deceptive or misleading practices.
May 16 -
WASHINGTON -- M&T Bank has agreed to pay $64 million to settle U.S. government allegations that it originated defective Federal Housing Administration insured loans over a five-year period.
May 16 -
As the Federal Reserve Bank of Minneapolis continues its yearlong inquiry into how to end "too big to fail" in the banking system, academics and economists are starting to home in on a different but related question: How do we keep financial contagion from creating financial crises?
May 16 -
The June 25 launch, which will provide lenders with much more information about a borrower's credit history, will mark the first widespread use of trended data in the mortgage industry.
May 16 -
Favorable treatment under upcoming Consumer Financial Protection Bureau rules has led banks to signal interest in small-dollar loans. But if they can serve the market profitably, why aren't they already doing it?
May 16
Community Financial Services Association of America -
WASHINGTON -- The Office of the Comptroller of the Currency has opened registration for a June forum on supporting responsible innovation in the banking industry.
May 16 -
The Securities and Exchange Commission has filed fraud charges against two attorneys it says stole money from small-business owners seeking commercial loans.
May 13 -
A long-awaited final rule published this week that requires banks to keep better track of the owners of companies with accounts at their institutions is too little, too late in combating money laundering and terrorism financing, according to financial crime specialists.
May 13
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In a blog post on the Brookings Institution website, former Federal Reserve Chairman Ben Bernanke defended the Dodd-Frank Act and Basel reforms as a necessary "process" while countering calls to break up the largest U.S. banks as shortsighted and unnecessarily disruptive
May 13
