Retail & Commercial

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

A federal judge found last year that a credit reporting dispute did not have to be investigated because the consumer's complaint was frivolous. The Consumer Financial Protection Bureau and the Federal Trade Commission argue that the decision undermines a key purpose of the Fair Credit Reporting Act.

The bank's web- and mobile-based chatbot was built using software from Amazon.

The bank, which is seeking regulatory approval of its proposed First Horizon purchase, said that a quarter of the branches will be in majority-minority or low-to-moderate income neighborhoods. Progressive groups have argued that the $13.4 billion acquisition would harm low-income communities.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

Consumer spending continues to rise, but last quarter's acceleration in loan growth is starting to lose momentum, and bankers are tempering expectations about fee income. Meanwhile, deposit outflows have yet to result in strong competition for customers' money.

Allegiance Bancshares and CBTX received the final blessing they needed from the Fed to complete their proposed deal 10 months after it was announced. But regulators say the new company must take steps to attract more African American mortgage borrowers.

The Consumer Financial Protection Bureau director is looking at "small ways" to hold peer-to-peer payment providers responsible for investigating allegations of fraud under the Electronic Fund Transfer Act.

U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.

The Pennsylvania banking company could use the proceeds from its initial public offering to pursue acquisitions.