Retail & Commercial

LendingClub, which debuted as an online alternative to traditional consumer lending, is rebranding this summer. The new name reflects its broadened banking capabilities, which include a checking account, a savings account and certificates of deposit.

The South Carolina-based bank agreed to pay more than $100 million to acquire a longtime competitor in fast-growing Hall County, Georgia.

The Chicago-based homeowners received a $41,000 check to pay down a portion of their existing mortgage, freeing them from the lock-in effect, DREAM product provider Takara said.

Involuntary medical debt continues to impair the credit of an untold number of otherwise creditworthy Americans. Federal courts have left the door open for Congress to amend the Fair Credit Reporting Act in a way that would address the problem.

Cryptocurrencies and stablecoins — popular topics following the passage of the GENIUS Act — got less attention last week from big-bank CEOs.

The challenge for banks is not whether to adopt AI but how to do so with discipline, judgment and a clear understanding of its limits. The history of technology firms overpromising is extensive in the banking industry.

Some litigants are "knuckleheads" but others are real threats, and well-pleaded cases can easily cost companies millions of dollars, TCPA attorney Eric Troutman said.

The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.

Nationwide, Americans are falling behind on their car loans. But among Ally Financial's customers, delinquencies fell during the first quarter.

The Birmingham, Alabama-based company also benefited from improved credit quality, with declines in nonperforming assets and criticized loans paving the way for a reduced provision