Retail & Commercial

The Cincinnati, Ohio, bank also promoted three other top executives to new roles. All of the changes will be effective in early 2024.

The Consumer Financial Protection Bureau's annual student banking report reveals that college-endorsed financial products, including credit cards and student ID-linked deposit accounts, often impose high fees and unfavorable terms, reinforcing the CFPB's ongoing scrutiny of potential violations of federal consumer financial protection laws.

Frequent overdrafters — households that pay more than 10 overdraft fees a year — use the service as a form of credit, the Consumer Financial Protection Bureau said in a report.

Allegations of lending discrimination against Navy Federal Credit Union, while as yet unproven, suggest that the rationale for giving credit unions substantial advantages over banks needs to be rethought.

Led by veteran banker Stephen Gordon, Genesis Bank in Newport Beach, California, plans to use the funds pledged by private equity firms and other investors to roll up community banks in the Western U.S.

The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.

The Consumer Financial Protection Bureau is appealing a lower court ruling that the agency exceeded its authority in bringing an anti-discrimination enforcement action against a Chicago mortgage lender after he made disparaging remarks about Blacks and Hispanics.

Remote work trends and high interest rates have substantially reduced the values of U.S. office buildings. A new academic paper estimates the extent of the deterioration, suggesting that there is perhaps more stress ahead for banks than is widely anticipated.

The $225 billion-asset Citizens Financial Group has partnered with the fintech Pinwheel to streamline the process for new account holders to switch the direct deposit of their paychecks from their old banks.

Sen. Elizabeth Warren, D-Mass., and other Senate Democrats urged the Office of the Comptroller of the Currency to rescind regulations or guidance that contradict the way Dodd-Frank says the OCC should deal with state consumer protection rules.