Retail & Commercial

Six years after buying a bank, the New York company plans to sell its banking unit to a group of investors. The decision to refocus on its core businesses comes 18 months after Thasunda Brown Duckett took the reins as CEO.

Some 16 million applications for student debt relief will be approved by this week, provided the White House plan survives court challenges, President Biden said Thursday. 

Polyanna Unruh embraced her employer's tuition-assistance benefit to go from high-school graduate to MBA.

Ant Group's Singapore digital wholesale bank will start offering loans to small and medium-sized businesses, as the Chinese fintech giant extends its reach in the city-state.

The Minneapolis bank disclosed the investigation four months after the Consumer Financial Protection Bureau reached a settlement with Bank of America over the distribution of unemployment insurance benefits on prepaid debit cards.

Following the verdict, the student-loan servicer could potentially owe Louis Beryl more than $4.4 million in severance money. Navient fired Beryl less than three months after acquiring Earnest, the student loan refinancing company that he co-founded.

The online consumer lender has told about 140 employees who process loan applications that it is eliminating their positions. The job cuts come as Upstart struggles to get banks and other investors interested in buying enough of its loans.

Just as automakers start making headway sorting out the parts shortages that have constrained production and left dealers with a scarce supply of vehicles to sell, the Federal Reserve is putting up a new obstacle: much costlier car loans.

FDIC data shows an uptick in the number of Americans with access to basic banking services. That momentum has to continue.

The shift in refi behavior — in the wake of multiple Federal Reserve interest rate hikes — helped fuel a loan growth trend that's expected to continue through year-end.