Retail & Commercial

WASHINGTON — The Consumer Financial Protection Bureau finalized a contentious policy Thursday allowing customers to describe their banking experiences more fully on the agency's complaint portal.

Citigroup's failure to pay 24,000 people owed money as part of a settlement with the government over foreclosure abuses has prompted Maxine Waters, the senior Democrat on the House Financial Services Committee, to call for an investigation into whether banks missed other borrowers.

The CFPB wants to expand banks' data reporting requirements under the Home Mortgage Disclosure Act. But this would impose even greater costs upon local financial institutions that are already overburdened by regulation.

The National Foundation for Credit Counseling has received a grant award totaling $2.3 million from NeighborWorks America to support foreclosure prevention efforts through its Member Agencies.

Alongside the requisite ATMs and tablet-bearing salespeople, a New York credit union has installed touchscreens where customers can visualize a path to realizing their financial goals. Wells Fargo is taking a similar approach to credit education online.

The long-standing practice of banks and mortgage lenders paying real estate brokers and homebuilders for referrals could soon be coming to an end.

To shake off years of sluggish growth, Citizens Financial is going hard after asset classes that other banks are starting to back away from. The Providence, R.I., company says the growth opportunity outweighs the risk.

The agency's interpretation of a Respa rule could put an end to the long-standing practice of mortgage lenders paying real estate agents and homebuilders to send business their way.

Ally Financial in Detroit announced its second big management change in less than two months.

U.S. Bancorp has hired a former Santander Bank executive to oversee the diversified industries segment of its large corporate banking division in New England.