Retail & Commercial

The once-worsening trend of consumers struggling to pay their credit card bills keeps stabilizing, new data from card issuers showed this week. The improved picture comes amid other signs that consumers aren't slowing their spending.

An amicus brief filed in a lawsuit challenging newly finalized implementing regulations for the Community Reinvestment Act argues that the court was chosen because plaintiffs believe the court is more likely to rule in their favor.

Acima offers lease-to-own plans on consumer items, but the Consumer Financial Protection Bureau and New York officials are calling those plans credit. The battles, playing out in separate courts, could trigger more expansive protections for customers.

Currently sitting at 2,500, the in-store branch count appears fated to continue dropping, as customers opt for digital channels and banks shy away from models that emphasize overdraft.

NCR Atleos and Diebold Nixdorf are leveraging the rise of branchless financial institutions and putting pressure on traditional banks to maintain access to paper.

Chatbots and other non-human service options got lower scores in J.D. Power's annual survey on credit card satisfaction, despite years of shifting from call-center agents to software to address client problems.

A Northwest credit union announced plans this week to buy a community bank, lifting the 2024 total of such deals to 13 and putting the year on track to set a record. The all-time annual high of 16 was set in 2022.

The Chicago-area bank closed the fifth-largest deal announced this year in a matter of months. It may bode well for M&A, as several big transactions have been announced in 2024.

Specialized Portfolio Servicing's sale resolves questions about it that arose when UBS bought the troubled Credit Suisse last year.

The change will allow the Wall Street firm's material risk takers to now earn a bonus that's as much as six times their base salary.