Retail & Commercial

Banks' have a new worry on the payday lending front besides the government's Operation Choke Point: lawsuits filed by consumers. Eleven financial institutions been hit with private suits that accuse them of helping online payday lenders break the law.

New York regulator Benjamin Lawksy plans to expand an investigation into the affiliated businesses of nonbank servicers and to eliminate several layers of review for mortgage bankers to apply for a license or a new branch location.

The National Consumer Law Center on Monday sued the U.S. Department of Education as a result of the agency refusing to hand over documents detailing how the federal government awards bonuses to collection agencies it hires to pursue defaulted student loans.

There are a lot of great programs aimed at helping low-income people improve their financial circumstances. One problem: figuring out how to connect with them in the first place.

Shore Bank, a subsidiary of Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., is opening its third branch on the Eastern Shore of Maryland.

Jumio is working with the European Bitcoin exchange Safello to provide faster verification of customers.

Freddie Mac has long struggled to compete with larger rival Fannie Mae because the former's mortgage-backed securities trade at a discount to the latter's. Their new regulator may change that.

New York consumers who paid exorbitant interest rates to the online lender Western Sky and the online loan servicer CashCall can begin filing claims to collect refunds.

Second Curve Capital in New York cashed out of two bank holdings in the first quarter.

Citi's move may bring much-needed liquidity to a segment of the mortgage market that most of the big banks, with the exception of Wells Fargo, abandoned in the aftermath of the crisis.