Retail & Commercial

The agency said Cross River Bank and an affiliated debt settlement company misled customers into thinking a debt consolidation program would settle their debts and boost their creditworthiness.

The Canadian bank becomes the largest institution to implement the fintech firm’s Bank Operating System technology.

One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.

Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break.

Some investors fear BBVA is taking a big risk by getting into unsecured personal lending long after online lenders have established themselves, but bank officials argue the bank’s cost of funds and in-depth knowledge of its customers will help it to outdo the competition.

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.

Credit unions in Michigan saw significant gains in Q4 2017, as CUs there ended the year with significant boosts to membership and lending.

The hiring of Mark Begor comes as the credit bureau has been shuffling its top managers since disclosing last year that hackers were able to access the personal data of 145.5 million U.S. consumers.

Traditional financial institutions would gain from adopting the innovative, consumer-focused mindset Amazon promotes. Hiring executives away from the e-commerce giant could help.

Despite soaring home prices, other factors needed to inflate a housing bubble are absent from the real estate market. But experts warn falling home values and rising mortgage defaults are inevitable, even if conditions naturally cool off.