Retail & Commercial

When the superregional bank sold its insurance business for $10.1 billion, it laid out three ways to use the proceeds: buybacks, a balance sheet repositioning and loan growth. The latter plan is so far proving to be elusive.

Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.

The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.

The Department of Housing and Urban Development and the Nationwide Multistate Licensing System also reportedly had disruptions.

Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.

Indirect auto loan originations at the Ohio-based bank rose by 31% from the first quarter. Huntington sees the business as an opportunity at a time when numerous other banks have been pulling back.

The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.

The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.

The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.

Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.